Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-12-01-Speech-4-050-000"

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	"sk"^^xsd:language2
lpv:document identification number	"en.20111201.3.4-050-000"2
lpv:hasSubsequent	lp_eu:2011-12-01-Speech-4-051-0002
lpv:speaker	lp:Jaroslav Paška2
lpv:spokenAs	vice-chair_member_of_the_bureau; EFD (2010-02-16--2014-06-30)3 unknown; Slovenská národná strana (2009-07-14--2014-06-30)3 substitute; REGI (2009-07-16--2012-01-18)3 member; Delegation to the EU-Croatia Joint Parliamentary Committee (2009-09-16--2013-06-30)3 substitute; Delegation to the Euronest Parliamentary Assembly (2009-09-16--2014-06-30)3 member; ITRE (2009-07-16--2012-01-18)3 substitute; Delegation to the EU-Armenia, EU-Azerbaijan and EU-Georgia Parliamentary Cooperation Committees (2009-09-16--2014-06-30)3
lpv:translated text	"Mr President, Commissioner, Governor, in 2010, the European Central Bank (ECB) applied the mechanism of purchasing euro area state bonds on secondary markets, despite opposition from several countries. In recent days, however, it has, for the first time, failed to sterilise these purchases. It needed to take out EUR 203.5 billion from the interbank market, but demand for its seven-day sterilisation operations was EUR 194.2 billion. This shows us that European banks are holding cash and not providing it even to the Central Bank, and also that the volume of bonds purchased is getting to be too high for the Bank to sterilise, and it has failed to increase the volume of euros in the financial system through bond purchases. If this trend of unsuccessful sterilisation operations continues, it will mean the equivalent of quantitative easing for the euro area, and thus a negative impact on the purchasing power of the European currency. It is therefore necessary, Governor, to modify ECB policy in a very sensitive way, in order to provide better protection for the euro and for the price stability of the euro area."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

Named graphs describing this resource:

The resource appears as object in 2 triples

Context graph