Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-27-Speech-4-086-000"
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"en.20111027.6.4-086-000"2
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"Mr President, economic governance in the euro area was, yet again, the main item on the agenda of the European Union summit in Brussels. Yet again, the possibility is being considered of amending the Treaty of Lisbon which, although conceived with a view to improving the functioning of the European Union, is still causing confusion among the EU institutions and in public opinion. A division within the European Union is now a reality. What we have is not necessarily, as has been claimed until now, a two-speed Europe but – as was recently expressed at the European Parliament – a three-speed Europe: the French-German directorate, other countries belonging to the euro area and countries that have not joined this zone.
However, at the summit last night the decision was made to write off EUR 100 billion of Greek debt and, additionally, to carry out bank recapitalisation. This short-term mechanism may prove insufficient, for example in the face of the threat that the crisis may extend to Italy, and for this reason, too, it is worth considering the possibility of a phased return of some countries to their national currencies."@en1
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