Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-01-19-Speech-3-033-000"

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"en.20110119.4.3-033-000"2
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"Mr President, as you know, the US Government has been forced, for the second time in the present credit crisis, to intervene drastically to support two major banks that collapsed and the insurance organisation ING. Thus, it has pumped USDĀ 700 billion into its banking system in financial aid. Despite these measures, the US economy still needed more help and, without any thought of thrift, the government recently provided another USD 600 billion to get the economy out of the recession. Obviously, the United States of America is printing new money. Unlike the US economy, the euro area has remained constant to the principle of budgetary discipline and strictly controlled monetary policy, thereby leaving a margin for various speculative enterprises to speculate at the expense of the countries less resistant to pressure. Mr President, I propose that quantitative easing be considered in the euro area; it may prove to be an egg of Columbus."@en1
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