Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-05-19-Speech-3-045"

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"Mr President, ladies and gentlemen, a Europe of the people and not a Europe of the States. The crisis we are experiencing is the crisis of European policy’s inability to govern the market. In order to save the euro, political institutions need to be strengthened and intergovernmental logic needs to be left behind to allow for European governance. This is not rhetoric because a few minutes ago in Berlin, German Chancellor, Angela Merkel, sounded the alarm stating that the euro is in danger. Voicing alarm without indicating strong and convincing measures risks further weakening the single currency for investors and the market and making all of Europe weaker. Imagine the response of the markets in the coming hours, considering that just minutes ago, the euro collapsed again. When we exit the House, Mr President, we may find ourselves poorer and more insecure. New European governance alone will allow us to defend the single currency, promote growth, employment and social inclusion. We must discard the old approach of coordinating national policies and equip ourselves with strong decision-making instruments. New European governance must assure three levels of intervention: a policy for growth, suitable financial instruments and emergency management. The EUR 750 billion rescue package was important but we have realised that it is not enough. Today, we need a strong political initiative that can guide the market to allow for greater mobility of the resources. The monetary and budget policies have proven inadequate in assuring productivity and competitiveness. We must not be afraid to invest, above all, in Community interest projects such as infrastructure, energy, the environment, knowledge and human capital. Mr President, Parliament has a great responsibility: to reinforce the capacity of Member States to leave intergovernmental policy behind and launch European spirit anew through its own independence."@en1
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