Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-06-16-Speech-3-018"

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"en.20100616.4.3-018"2
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"Mr President, during this crisis, the less pleasant side of the European Union is sadly being revealed all too often. Taboos are being broken and EU treaties breached, while the European Central Bank is acting as a safety net for bankrupt states. At the same time, people are continuing to enthuse about egalitarianism and Europeanisation, despite the fact that the crisis has demonstrated that the differences in the strength of the European national economies and in the national economic mentalities unfortunately cannot simply be magicked away by taking a centralist approach. For two years, the European Union has been staggering from one catastrophe to the next. First, there was the financial crisis, then the recession and now the explosion in budget deficits. Instead of controlling the speculators, who helped to cause the financial crisis and who have deprived ordinary people of their pension pots and jobs, and instead of finally laying to rest the misguided vision of neoliberalism, there are continuing calls for more centralism. In my opinion, we no more need an EU Council dictatorship than we do a new institution in the form of a European economic government which will cost us billions. I believe it is a very disturbing development that tax policy, minimum wages and the pension age are to be laid down by the EU, which does not even have any control over its own budget. A bank levy, transaction tax, regulations for rating agencies and increased supervision of the financial markets – all of these measures are important, but they are being introduced far too late. This makes it even more essential for the EU to act now and, if necessary, independently. It seems increasingly as if the euro is on a suicide mission in currency policy terms. In order to tackle the problem at its roots, we need to look at the option of a core European hard monetary union."@en1
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