Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-28-Speech-3-239-250"
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"en.20110928.19.3-239-250"2
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"The legislative 'six pack' designed to prevent situations like the current financial crisis from arising in future should have been in place right from the start of the single currency. It is now abundantly clear that the measures it contains should be part of the Stability and Growth Pact. It was an illusion to think that the single currency and single market could go hand in hand with national approaches to economic and budgetary policy. This means we are on the verge of economic and fiscal union. However, when Slovakia joined the euro area, nobody mentioned the loss of sovereignty in budgetary, taxation and economic policy matters. That is why simply adding these latest measures is not enough in itself. If we want to avoid similar mistakes in the future we will first have to admit that we were wrong. Otherwise it won’t be long before we slip up again. The result will be not the United States of Europe, but only the ‘United Wallet of Europe’, which everybody will pay for but for which nobody will take responsibility."@en1
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