Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-12-16-Speech-4-957"
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"en.20101216.15.4-957"2
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"I should like to reiterate what was said yesterday during the debate and say that I am very happy about the approval of Amendment 12, even if I would have added an even more direct reference. We need to find new and innovative instruments to finance the crisis mechanism. Through the issue of Eurobonds, the crisis mechanism would be financed on the markets, drawing on foreign capital and people looking to invest, without any negative effect on national budgets. A mechanism based solely on pro-rata contributions, under the form of mere provisions of reserves, would imply a major burden on Member States, which would have to find the cash or capital to deposit without this bringing any yield or return. In a situation like the one at present, where Member States are asked, on the one hand, to implement severe budget policies to reduce deficits and debts and, on the other, to pay contributions to participate in the stabilisation fund, there is a real risk of collapse."@en1
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