Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-12-15-Speech-3-050"

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"en.20101215.5.3-050"2
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"Madam President, I cannot understand why the Socialists are trying to escape from the responsibility of Socialist policies. It is true that the reasons for the deficits we see in Europe are different. It is also true that Socialist governments have entered into budget deficit problems because of a deliberate policy of increased spending and increased deficits. We had this debate in Parliament in the spring of 2009 and we had it in a number of Member States. I remember the Swedish Social Democrats criticised the Swedish Government for not increasing the deficit and the spending. Then we have seen what has happened. This is for me a reason why we need stable rules regarding the Stability and Growth Pact but also stable rules regarding the consequences. We cannot have a situation where Member States which are causing problems for financial systems and causing increased interest rates are allowed to escape from the consequences by letting other citizens pay for those interest rates. We need to have stability, and eurobonds will not be a solution to that problem. We can have eurobonds for other reasons. maybe. As for the financial mechanism, it must be financed and based upon the risks that Member States are creating. If you take a bigger risk, run a bigger deficit, then you also need to finance the financial mechanism a little bit more. That is a way of taking responsibility for deliberate policies. Do not forget that the consequences we see in a number of countries are the consequences of the debates we had in national parliaments, and in this Parliament, when some of us argued for increased spending. Now we see the bitter results."@en1
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