Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-11-14-Speech-1-135-000"
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"en.20111114.18.1-135-000"2
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"Mr President, the last few days have been extremely tough for the euro area: there have been two changes of government – in Greece and Italy – and three economies – Italy, Spain and France – have seen their borrowing rates hit record highs.
The Commission communication published just last Thursday containing economic forecasts for the next two years starts with the drastic finding that the recovery of the European economy has stopped; at the same time, Eurostat has found that unemployment in the European Union as a whole is rising and has now reached 10.2%. There can be no doubt that the euro area is currently at the most difficult turning point in its history and we all need to be honest about that.
We have two paths before us: one is the solitary path of admitting failure, the path fed by scaremongering articles and by those who never believed in Europe. The other is the path of addressing what are now common challenges, the path of mutual trust and effort, the path mapped by the founding fathers of the European Union, which we can and must continue to follow. This is the tried and tested Community path that leads to prosperity and progress in the Member States."@en1
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