Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-21-Speech-2-603"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2010-09-21"^^xsd:date2
dcterms:Is Part Of	lp_eu:Draft amending budget No 7/2010: guarantee provided by the European Union in accordance with the provisions of Article 122 of the TFEU – financial assistance to Member States (debate)2
dcterms:Language	"de"^^xsd:language2
lpv:document identification number	"en.20100921.21.2-603"2
lpv:hasSubsequent	lp_eu:2010-09-21-Speech-2-6042
lpv:speaker	lp:Franz Obermayr2
lpv:spokenAs	substitute; EMPL (2009-07-16--2012-01-18)3 substitute; Delegation to the EU-Kazakhstan, EU-Kyrgyzstan and EU-Uzbekistan Parliamentary Cooperation Committees, and for relations with Tajikistan, Turkmenistan and Mongolia (2009-09-16--2014-06-30)3 unknown; Freiheitliche Partei Österreichs (2009-07-14--2014-06-30)3 member; Delegation for relations with Iran (2009-09-16--2012-02-12)3 member; REGI (2009-07-16--2012-01-18)3 member; NA (2009-07-14--2014-06-30)3
lpv:translated text	"Madam President, the assistance given to Greece was sold to us as an exception from the bail-out ban, on the basis of Article 136. However, Article 136 does not provide a basis for giving credit to Greece since it only allows measures in accordance with the relevant provisions of the treaties. Not only are these not provided for in the TFEU; they are actually explicitly banned. The provision therefore does not authorise further measures, and this was also the conclusion reached by the Centre for European Politics, or CEP for short, in its relevant report. The finance ministers of the euro area decided to assist Greece by providing credit at an average interest rate of 5%. However, the CEP experts have proven that credit provided at a politically motivated interest rate that is below the market rate represents an illegal subsidy. The assistance given to Greece was thus extremely controversial from a legal point of view, if not downright unlawful. As far as the actual implications are concerned, Commissioner, I would like to pass on to you the assessment made by the German economics expert Joachim Starbatty, which I fear is sadly correct: if the euro area countries continue to be answerable for the debts of other Member States, then in 10 years’ time, the euro will no longer exist. We have to eradicate the disease, not simply put ointment on the wound. Euro area countries that can no longer service their debt need to become competitive again by leaving the monetary union. Otherwise, I believe the euro has no future."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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