Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-12-Speech-3-057-000"
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"en.20111012.14.3-057-000"2
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"Mr President, the euro is facing a clear and present danger and the EU is facing one of its greatest tests. It must act responsibly, but it should act within its own clear, current competences and the way forward for the eurozone must be found by the eurozone members.
Meanwhile, the Commission is occupying too much of its time with distractions such as the financial transaction tax or with financial services reforms that could dry up liquidity when it is most needed, rather than pursuing the vital competitiveness or deregulation which President Barroso has historically proposed.
While action is so desperately needed, we wait. As Europe’s banks become ever more threatened, the Council postponed its summit in order to further analyse the situation of Greece. Following the vote in Slovakia on Tuesday, we are still awaiting the ratification of the new powers of the European Financial Stability Facility.
Action is needed; it must be decisive. We need a plan to recapitalise Europe’s banks. In the medium term, Member States need to adopt credible plans to ensure that they can live within their means and generate economic growth. The people of Europe are expecting answers to these problems. Time is short."@en1
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