Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-11-16-Speech-3-073-000"

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"en.20111116.5.3-073-000"2
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"With a strengthening of action comes a strengthening of credibility. It is clear to all that we need a Community-wide approach if we are to see stability again in Europe. The economic crisis is our common problem and it will only be resolved through common action based on a collection of democratic institutions, rather than a small coterie of EU leaders. The European Parliament is the representation of European citizens and the guarantor of democratic legitimacy. MEPs must be given more say in the resolution of the financial crisis, particularly in light of the unsuccessful resolutions put forward by a small group of national leaders. The European Parliament is already taking action on speculation. This week in Strasbourg, MEPs voted to ban the short-selling of bonds in the financial markets, which is the first in a number of important steps needed to temper the markets, restore demand and create sustainable jobs. We have tried the European Council route to stabilise the euro, and it has proved unsuccessful. The focus must now be to utilise the EU’s other democratic arm for fiscal reform – only in this way can we ensure support for our plans by European citizens."@en1
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