Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-07-Speech-2-238-000"
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"en.20110607.23.2-238-000"2
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"No, I do not accept that. I think the European Central Bank is a very credible institution that has been managed with great wisdom and intelligence. The independence of the ECB is respected by all the Member States of the euro area. Of course, we know that there are some difficulties in the euro area. As I have already said, they are difficulties which, to be fair, concern not only the euro area.
Unfortunately, your criticism of the euro area is always ideological. The debt problems are not exclusive. On average, the debt in the euro area is lower than the debt in the UK, to give an example. But, in fact, we have different problems because this is the first time we have had this type of monetary union without some more integrated institutional setting. That is precisely why we are now trying to have a comprehensive response, and the ECB is part of the effort we are making to give financial stability to the euro area."@en1
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