Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-05-11-Speech-3-605-000"

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	"sk"^^xsd:language2
lpv:document identification number	"en.20110511.35.3-605-000"2
lpv:hasSubsequent	lp_eu:2011-05-11-Speech-3-606-0002
lpv:speaker	lp:Monika Beňová2
lpv:spokenAs	unknown; SMER-Sociálna demokracia (2009-07-14--2014-06-30)3 member; Delegation for relations with Israel (2009-09-16--2014-06-30)3 member; LIBE (2009-07-16--2012-01-18)3 substitute; AFET (2009-07-16--2012-01-18)3 vice-chair; S&D (2009-07-14--2012-01-18)3
lpv:translated text	"Mr President, Portugal is another country in need of financial assistance from the Eurobond, but us be honest and admit that the labelling of this crisis as a ‘debt’ crisis or a ‘euro’ crisis is highly misleading. It gives the impression that the euro is in crisis because certain Member States are incapable of running their affairs sensibly and have taken on too much debt. Ireland and Portugal, however, ran their affairs in a disciplined way, and got into a crisis that was not of their own making. It is the poorly regulated banks that were irresponsible. It was the cost of protecting these banks that got some euro area states into financial problems. The actual crisis is therefore rather a crisis of the European banking sector. If we are honest, the Eurobond, or rather the new form it will take after 2013, will surely not be enough. The cost of protecting the euro must be reduced in such a way that we force the commercial banks to acknowledge their losses. The next step should then be effective regulation of the financial sector."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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