Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-04-05-Speech-2-020-000"

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"Madam President, President Van Rompuy, President Barroso, ladies and gentlemen, there is a question that the European public is asking: will the European Council make the necessary choices and will they be the right ones to get us through the crisis? Many Europeans may think that the choices are along the right lines, but are slow and not very ambitious. Those who have seen the documentary will be angered by such greed and lack of scruples, and will be asking: if credit rating agencies (CRAs) operate in this way, what is Europe doing towards establishing independent and reliable CRAs? President Barroso said not long ago that, if a Member State can avoid having recourse to outside aid, then it should do so, as outside aid is costly. That is also the opinion of the Portuguese Government. Portugal does not need outside aid: it only needs financing for its economy and its families at reasonable interest rates. However, as CRAs serve the interests of speculators, the result of the enormous sacrifices that the Portuguese are making is going directly into the pockets of these speculators. Is this European justice? Do political decision-makers not realise that we are going through a crisis of the euro area; I repeat, of the euro area: that attacks on the sovereign debt of some countries could undermine the euro, and jeopardise the single currency and the European project itself? This is a European problem, which requires a European solution. If we are to come through the crisis, we need more Europe rather than less Europe; we need to measure up to our past and to the challenges of the future; we need to give confidence and hope to the European public, without whom there is no European project."@en1
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