Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-14-Speech-3-052-000"
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"en.20110914.3.3-052-000"2
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"Mr President, I believe that the bankruptcy of one eurozone Member would, in fact, lead to the bankruptcy of the whole of Europe, and that it would have untold consequences and an exorbitant cost, not only in financial terms, but also in economic, employment and political terms. Bankruptcy is therefore not an option, and it must be stated clearly here.
The only solution is to help Greece: firstly by honouring our commitments; secondly by giving the country time; thirdly by helping it to conduct and successfully carry through the structural reforms it requires; and finally, by providing its people with prospects and guaranteeing those prospects. Only if we do that will Greece get back on its feet, in my view.
However, the crisis of confidence in the euro has reached such a level that we obviously cannot stop there. We need to implement these Eurobonds, which we have now been discussing for months, pool a proportion of eurozone Members’ debt up to 60% of GDP, and make progress on the issues of economic governance and of political governance, too, which has been very unsatisfactory during the crisis."@en1
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