Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-12-01-Speech-4-061-000"

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	"sv"^^xsd:language2
lpv:document identification number	"en.20111201.3.4-061-000"2
lpv:hasSubsequent	lp_eu:2011-12-01-Speech-4-062-0002
lpv:speaker	lp:Olle Ludvigsson2
lpv:spokenAs	unknown; Arbetarepartiet- Socialdemokraterna (2009-07-14--2014-06-30)3 member; EMPL (2009-07-16--2012-01-18)3 substitute; ECON (2009-07-16--2012-01-18)3 substitute; Delegation for relations with Australia and New Zealand (2009-09-17--2013-01-10)3 member; S&D (2009-07-14--2014-06-30)3 member; Delegation to the EU-Former Yugoslav Republic of Macedonia Joint Parliamentary Committee (2009-09-16--2014-06-30)3
lpv:translated text	"Mr President, it is important to note that the European Central Bank (ECB) has done a good job so far during the euro crisis. With the latest interest rate reductions, interest rate policy has been returned to a reasonable level and the support programme for purchasing the bonds of the weakest countries in the euro area was necessary and balanced. The fact that the ECB has started to use a larger range of instruments than those traditionally used has been justified in view of the circumstances. The crisis is a long way from being over, however. We are currently facing a situation in which the entire monetary union is at risk. An unexpected disturbance could upset the extremely fragile balance in state finances and on the financial markets. A second case like Lehman Brothers is, unfortunately, not an entirely unimaginable scenario. In this situation, a whole host of measures obviously need to be taken from a political standpoint. At the same time, there can be no doubt that part of the solution must also be for the European Central Bank to take a more active role. It must be possible in some way for the bank to act as a lender of last resort. This would improve stability in the monetary union in both the short and the long term. A more active involvement is, of course, associated with increased risks in the bank’s balance sheet. However, this has to be weighed against the extremely serious risk scenario that the entire monetary union will be destroyed. It is now time for several different players to reconsider their position with regard to the ECB. The bank should be able do more than it is currently able to do. Such measures could effectively reduce the current turbulence. It is no good to simply wait and see what happens, either; measures must be taken now. Thank you for the opportunity to speak, and thank you to the rapporteur and the President of the ECB for joining us here in Parliament."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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