Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-11-16-Speech-3-083-000"
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"en.20111116.5.3-083-000"2
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".
We all state in public that European economies are so interconnected that we need to coordinate our actions. Yet what we have seen in practice are creditor countries in the euro area, with relatively sound and stable public finances and strong economies, pursuing the same austerity policies as those receiving emergency loans. As a result, last week’s economic forecasts by the Commission demonstrated that the euro area has now been brought to the brink of a new recession. This is definitely not the time to be talking about changing the treaties. As we saw from the creation of the European Stability Mechanism earlier this year, even the use of the new simplified procedure takes months – and that is without changing the EU’s competences. The issue of embedding the current emergency measures in the treaties should wait until we see the resolution of this crisis. Rather than behaving exclusively like conventional creditors, Europe’s strongest countries should take this opportunity to pursue more demand-driven policies and stop the EU from going over the brink."@en1
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