Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-11-30-Speech-3-090-250"
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"en.20111130.14.3-090-250"2
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"The December meeting of the Council will be a turning point. There is no parallel to the current situation in post-war European history, and it is now a question of the survival and preservation of the European project. The main item will be how to halt the eurozone crisis. I was interested, however, by one phrase in the meeting agenda referring to a discussion on the ‘economic convergence of the eurozone’ at the meeting. I would very much like to know what sort of convergence the EU leaders wish to discuss. A convergence which does not exist? A convergence rendered impossible by way the eurozone is set up? The way the eurozone was modelled from the beginning has contributed to the fact that we are now talking about structural imbalances in Europe. It is simply a logical consequence of the eurozone set-up that we now have countries with a surplus, such as Germany, and countries with a deficit, such as Greece, Italy, Portugal and Spain. Therefore, not only does eurozone convergence not exist, but, on the contrary, the eurozone contributes to the worsening of internal imbalances. If the leaders really want to talk about 'strengthening convergence', they cannot avoid the fundamental question of what to do about the eurozone. The meeting agenda also includes the item ‘deepening economic union’. If the Council is going to insist that budgetary discipline is the priority, and if the leaders do not realise that some form of transfer union is inevitable, then the meeting will get nowhere. It has to be understood that the time has come for fundamental decisions to be taken. If we hesitate, we may never get a chance like this again."@en1
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