Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-03-08-Speech-2-496-000"
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"en.20110308.25.2-496-000"2
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"Madam President, deliberate avoidance of economic governance and of banking regulation at both national and European level has delivered us into this crisis, and the crisis is obvious to everybody in terms of jobs, lack of growth, pensions lost, etc. So, President Barroso, and indeed Commissioner Olli Rehn, you do not have to convince me that economic governance is necessary, that it must be strong, and that all Member States, and particularly those in the eurozone, must buy into it. But we must convince the people of Europe that it is necessary, and the way we will do that is by ensuring that it is legitimate. We ensure it is legitimate by refusing to accept any proposals which are not based on the Treaties and not based on the Community method.
It will not be acceptable if it is perceived to be in the interests of one, two, three, four or five economically powerful States. That is the reality. And so it is extremely important for the future of this Union that what is agreed at the informal Council on 11 March, and what is agreed at the end of March, can be supported by the public at large in Europe.
The Irish Government that has just been elected in Ireland has a strong mandate. I quote from the programme which it has just agreed: ‘We must step back from the edge of national insolvency (...) the EU-IMF Programme of Support has – to date – failed to restore confidence in the Irish economy (...) this reflects uncertainty over the affordability of the rescue package’.
I want to conclude on this point if I might. It is an important point. The failure of the programme contributes to the wider eurozone financial instability."@en1
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