Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-11-16-Speech-3-079-500"

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"en.20111116.5.3-079-500"2
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". The outcome of the latest Council meeting on the future of the euro area was positive and demonstrated the solidarity shown by all Member States towards the states which are experiencing hardship, although we still have many grounds for concern at European Union level. A variety of options at euro area level have been discussed so far, ranging from the European Union’s Solidarity Fund to Eurobonds or intervention from the ECB on secondary markets. It is absolutely necessary to implement these options without any restrictions. However, I think that unless proper European economic governance is established for the euro area, with increased decision-making powers, the European Union will not be able to respond as an entity. This European economic governance will allow us to develop much closer coordination of fiscal policies at EU level, carry out macroeconomic supervision of Member States and devise a common economic strategy which will make the European Union more powerful globally. In the opposite scenario, the future of the single European currency and even of the European project itself may be seriously jeopardised."@en1

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