Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-11-23-Speech-2-132"

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"en.20101123.33.2-132"2
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"Mr President, ladies and gentlemen, the report examines the annual report and the activity carried out this year. Economic and financial and, to a growing extent, political actions are still extensively dominated by the international financial crisis. Events in Greece and in other countries of the area naturally have complex causes. The problems are largely of internal origin because they stem from a lack of structural reforms. Without a shadow of a doubt, the European monetary union has not operated in the way it was designed to work. The principles of the Stability and Growth Pact have not always been respected and infringements that seemed minor initially have proven, over time, to be a serious threat to the pact as a whole. We must therefore learn a lesson from the situation. We need to re-balance the European monetary union, achieve greater transparency and more effective management of the crisis in the financial markets and rebuild public trust from the bottom. This is an enormous challenge, but also an opportunity that we have a duty to grasp."@en1
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