Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-11-22-Speech-1-047"

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"en.20101122.13.1-047"2
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"Madam President, first of all, I should like to congratulate the rapporteur on the splendid job he has done. Since the European Parliament is the primary institution through which the European Central Bank is accountable to European citizens, I am very pleased about President Trichet’s participation in this plenary, and also that he regularly engages in monetary discussion with the Committee on Economic and Monetary Affairs. The financial economy is global in nature. The crisis, too, is global. It is precisely for this reason that the solutions to the crisis must also be global. We cannot ignore the fact that the Member States’ economic and financial problems still affect the euro in all its aspects. I once again agree with the rapporteur. Unfortunately, the EMU has not complied with nor held Member States accountable for compliance with all the principles of the Stability and Growth Pact. This is why we speak of government debt growth, and this is why we now see a new wave of the crisis, which is a government debt crisis. I trust that the issues regarding the ECB’s independence and its responsibility for decision making will be resolved in a reassuring manner, and that this, along with the reform programme aimed at creating a successful economic union, will help strengthen the European Union and the euro area within it. I am sure that we are able to learn from the crisis and from our mistakes, and that the crisis will create opportunities for us."@en1
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