Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-12-Speech-3-097-500"

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"en.20111012.14.3-097-500"2
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"On 23 October, we shall witness a new, possibly historic, summit of the European Union that is to be preceded by meetings of the finance ministers from the 27 EU Member States. Among others, the Polish Presidency was requested to take part in organising those meetings and is treating this request as a priority. In the situation of an escalating financial and economic crisis, we must do our best and commit ourselves to the task of developing coherent solutions, for this is the only way out of this grievous situation. As regards a solution to what is referred to as the Greek crisis, the way out lies through the additional capitalisation of banks and the increased efficiency of the European Financial Stability Facility. We must ensure that the next meeting meets the hopes placed in it – unlike the recent ‘crisis’ summits whose decisions have not yet been finally implemented (there has been no ratification of the decision to boost the EFSF in all 17 countries in the euro area following the last summit), yet which already require amendments and additions. I believe that our shared ambition should be to take decisive steps to prevent the debt crisis from spreading from Greece to, say, Spain. We need not look far to find examples of how serious the situation is. For example, the deterioration of the situation in the banking sector, which requires additional capitalisation, is illustrated by the recent liquidation of the French-Belgian bank Dexia, which in June held EUR 4.3 billion’s worth of Greek bonds. In these harsh times, I would like to appeal to the Member States and urge them to take an active part in joint actions. This is the time when our motto should be ‘all for one and one for all’."@en1

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