Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-12-01-Speech-4-034-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-12-01"^^xsd:date2
dcterms:Is Part Of	lp_eu:ECB annual report for 2010 (debate)2
dcterms:Language	"ro"^^xsd:language2
lpv:document identification number	"en.20111201.3.4-034-000"2
lpv:hasSubsequent	lp_eu:2011-12-01-Speech-4-035-0002
lpv:speaker	lp:George Sabin Cutaș2
lpv:spokenAs	member; Delegation for relations with the Korean Peninsula (2009-09-16--2014-06-30)3 substitute; Delegation to the Cariforum — EU Parliamentary Committee (2010-09-07--2014-06-30)3 substitute; INTA (2009-07-16--2012-01-18)3 substitute; Delegation for relations with Iran (2009-09-16--2014-06-30)3 member; ECON (2009-07-16--2012-01-18)3 member; S&D (2009-07-14--2014-06-30)3 unknown; Partidul Social Democrat + Partidul Conservator (2009-07-14--2014-02-25)3
lpv:translated text	"Mr President, allow me to welcome President Draghi to the European Parliament. I would like to begin by thanking my colleague, Mr Tremosa, for his excellent cooperation on this dossier. Against the current backdrop of financial instability, the European Central Bank has, in practical terms, a fundamental role to play. However, as I see it, the actions taken by this institution to address the turbulent conditions evident on the financial markets are still inadequate. However, the bank’s independence must be preserved, and it must become, in practical terms, as you stated, a lender of last resort for the euro area countries, taking action to tackle speculation and the deterioration in the crisis situation. At a practical level, if the bank assumed its role as a central bank, this would help significantly to boost confidence in the robustness of the euro area’s architecture. At the same time, a beefed-up role for the European Central Bank must be supplemented by radical measures, so to speak, such as issuing common euro area bonds, harmonising Member States’ taxation systems and strengthening the European Financial Stability Facility. In this regard, I support the proposal tabled by the Commission on 23 November for issuing common euro area bonds. I believe that Member States must realise that these bonds have to be issued to ensure the financial markets’ stability and that each of them stands to gain from a solution based on solidarity. This would, at a practical level, reduce the overall cost of the debt and would ensure the European financial markets’ liquidity. I would like to make one more, final point, which I personally believe: the European currency cannot function without fiscal union which will, in practical terms, complete monetary union."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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