Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-04-04-Speech-1-233-000"
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"en.20110404.20.1-233-000"2
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"Madam President, the conclusions of the last summit provided anything but reassurance. The clear provision for the facility for a Member State to restructure debt post-2013 is a straightforward departure from the European Union’s original position when the crisis broke, that debt restructuring would be precluded at all costs. Already in Greece, the debate by distinguished economists at international level and the markets has taken off again.
What happened to change this position? Every effort was made, no cost was spared; perhaps we just ran out of steam. The truth is that the forecasts and estimates made are not being verified. The recession is getting worse in Greece instead of better, government spending is at -9%, when it should be at +8.5% based on the memorandum for 2011 and, worst of all, unemployment has already topped 15%.
There is only one answer to this: growth. Is there any sign of growth? No, there is not; we need policies for growth, not reversals and talk about restructuring."@en1
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