Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-27-Speech-4-075-000"
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"en.20111027.6.4-075-000"2
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"Mr President, it would appear the markets have been calm this morning – but for how long, Mr Van Rompuy? One of the agreed measures is for banks to raise more capital. How is this going to happen? Will they simply stop loaning? How will that affect growth in the economy? Will we possibly see control of the region’s banking system handed over to the Middle East and Asia? Europe is not giving new money to the banks, and instead they are expected to find EUR 100 billion themselves and also write down EUR 20 billion of Greek debt. This can only come from restricted lending or from outside investors taking advantage of the buyers’ market and will probably end up buying up most of the European banking system.
Rather than admit the project is a failure and seek to carefully dismantle it, instead you are willing to sell it. Perhaps you are going to take raffle tickets to the next G20 meeting, with the top prize being Greece. This whole period has raised some serious questions about you, Mr Van Rompuy. As the leaders of Europe have been bickering and squabbling and falling deeper into the mire, the newly-elected President should surely have jumped to attention and started to flex his muscles. But you have been about as visible as credit in the European governments’ treasury. The euro has done more for European disunity than anything else, turning country against country, leader against leader, taxpayer against government.
Outside the United Nations you stated that the EU was the fatherland of democracy. So who is the mother? Perhaps the Soviet Union. Mr Van Rompuy, I want to ask you if you would kindly give me an answer when you stand up in a few minutes. I want you clearly to tell me what you believe the cost for this recent rescue bailout will be to the United Kingdom."@en1
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