Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-12-15-Speech-3-047"

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"Madam President, the year that is coming to an end – 2010 – has been described more than once as the year in which we lived dangerously. I think, therefore, that this debate ought to be useful in highlighting the lessons of 2010, so that we can draw conclusions for 2011. The first conclusion concerns the unsustainable imbalances in the financial sector of the European economy and the distortions in its real economy. The second is the unsustainable imbalance in the single currency and the need for coordination of economic, fiscal and budgetary policies, which are still in a fragile state. The third, and main conclusion concerns the imbalance between the speed of the crisis and the slowness of response times. From an economic point of view, this means that the European Central Bank needs to be more active in response to speculative assaults on sovereign debt, and in 2011 we need to lay the foundations for a European debt agency that can issue eurobonds. Likewise, with regard to the Stability and Growth Pact, there needs to be a debate regarding the necessary taxation, the banking tax and the tax on speculation, that is short-term speculative transactions, and on the need for own resources in the European Union. However, the debate that is important to Parliament is the debate regarding the political consequences of the crisis, because the European Union’s motto is – I stress once again – ‘United in diversity’, and under no circumstances is it ‘split by adversity’. Parliament therefore needs to confront those that seek to stigmatise some Member States in relation to others, dividing European public opinion and pitting Europeans against each other. Parliament represents 500 million Europeans from a Union that has 27 Member States, and as on Orwell’s farm, there are none more equal than others."@en1
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