Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-11-22-Speech-1-050"
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"en.20101122.13.1-050"2
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"Madam President, the European Central Bank has not known a year as eventful as 2009 since the euro was introduced. Tackling the crisis has cost a great deal of effort and this is still continuing. I think that we should have a better and stronger approach to tackling the crisis. The establishment of the European Emergency Fund is no structural solution. We will still have huge debts which countries like Greece or Ireland will never be able to repay. What really helps, however, are stringent, strict budgetary discipline and the accompanying automatic penalties. Fortunately, Mr Balz’s report is very clear on that point. The Council should take the same approach in adapting the Stability and Growth Pact. Cutbacks are needed if we are to overcome the crisis. The majority of this House should also apply that principle to the European budget. The acceptance of the 2.9% budget increase is a very broad compromise already. No citizen will understand Parliament wanting still more and wanting further compromises. Therefore, do not do it!"@en1
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