Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-07-06-Speech-2-428"

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"Mr President, I propose that we imagine for a moment what would have happened in Europe with this huge crisis without the euro. In my case, I could argue that Spain would probably have had a big . The euro was created 11 years ago. Creating a single currency was not an easy process and there were great speculative attacks on very important European currencies. However, I think that the benefits and advantages of the euro for the eurozone citizens are much higher than the costs associated with it. Dear colleagues, now we are experiencing another European momentum; another European train – European financial supervision – has arrived at the train station and it is waiting for the European countries to jump on board. Let me also say that we will not have another opportunity to rescue the financial sector if there is another financial crisis and we continue doing business as usual. I will not say ‘in the ECB we trust’, because I know that my colleague, Sven Giegold, does not like to mix economy and religion, but the further step towards a European financial authority increases the role of the European Central Bank in European financial supervision."@en1
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