Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-05-11-Speech-3-578-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-05-11"^^xsd:date2
dcterms:Is Part Of	lp_eu:Developments in the ongoing debt crisis and the EU response (debate)2
dcterms:Language	"fr"^^xsd:language2
lpv:document identification number	"en.20110511.35.3-578-000"2
lpv:hasSubsequent	lp_eu:2011-05-11-Speech-3-579-0002
lpv:speaker	lp:Robert Goebbels2
lpv:spokenAs	member; S&D (2009-07-14--2014-06-30)3 substitute; ECON (2009-07-16--2012-01-18)3 member; Special Committee on the Financial, Economic and Social Crisis (2009-10-08--2011-07-31)3 vice-chair; Delegation for relations with the countries of Southeast Asia and the Association of Southeast Asian Nations (ASEAN) (2009-09-30--2014-06-30)3 substitute; Delegation to the ACP-EU Joint Parliamentary Assembly (2009-09-16--2014-06-30)3 substitute; Special committee on the policy challenges and budgetary resources for a sustainable European Union after 2013 (2010-06-17--2011-06-30)3 unknown; Parti ouvrier socialiste luxembourgeois (2009-07-14--2014-06-30)3 member; ITRE (2009-07-16--2012-01-18)3
lpv:translated text	"Mr President, in the face of crazy rumours and speculative attacks against a number of Member States, let me remind you of a few facts. The euro is a strong currency. In 10 years, the euro has established itself as the second most widely used currency in the world. Thirty per cent of international monetary reserves are denominated in euro. More than a third of international private borrowing is carried out in euro. The euro has a purchasing power 40% higher than that of the dollar, which means that euro area Member States pay less for their raw materials, particularly oil. The euro is here for the long haul in all euro area Member States. With all due respect to Mrs Le Pen, leaving the euro is simply not an option. Any Member State leaving the euro – which is what Mrs Le Pen wants for France – would see its new currency dramatically devalued. In the wake of the crisis in Iceland, the value of the Icelandic currency has been halved. This 50% devaluation of the Icelandic currency has caused the rate of inflation in Iceland to leap from 5% to 14%. The only way to restore calm in the markets is to allow Greece, Ireland, Portugal and others to restructure their debt through the issue of Eurobonds guaranteed by the Union at reasonable rates. I am talking here about the Tremonti-Juncker initiative. In fact, Eurobonds already exist. The European Investment Bank (EIB) borrows under the guarantee of the 27 Member States. Last year, the EIB raised EUR 80 billion at average rates of between 3% and 3.5%. It is rates like those that would enable Member States under pressure to overcome the crisis and to return to the path of financial stability."@en1
lpv:unclassifiedMetadata	"(The speaker agreed to take a blue card question under Rule 149(8))"1
lpv:videoURI	<go to Events_and_structure europarl>2

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