Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-05-19-Speech-3-344"

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"Mr President, recent times have shown us the importance of healthy government finances. It is therefore curious, to say the least, for the rapporteur, Mr Hoang Ngoc, to want to tone down – and even remove – strict requirements for the Stability and Growth Pact to be followed. The truth is, on the contrary, that it is essential for the EU now to focus on getting its run-away debt under control. Otherwise, the future could be even more terrifying. I was a member of the Swedish parliament, the during the 1990s and I was on the Finances Committee when our public finances collapsed. I am not particularly proud of this, but it is true: for a period, we had interest rates of 500%! They were heading towards 2 000%, which meant we were well on the way to banana republic status, but even the 500% rates were not enough – our currency crashed and George Soros won. Hard times lay ahead for the Swedish people, but, Mr Hoang Ngoc, we learnt one thing, and that was to keep our finances in order. The same applies to Europe – good order provides stability and growth."@en1
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"Riksdag"1
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