Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-12-01-Speech-4-063-000"

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"en.20111201.3.4-063-000"2
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"Mr President, Mr Draghi, welcome to this Parliament. We are living through exceptional and dramatic times, which require determined and urgent measures. The spiral between Member State debt and bank debt must be brought under control, but the priority at the moment is to defend the Member States, so as to ensure that the countries of the euro area and the euro itself are not destroyed by the credit rating agencies and speculators. In the Tremosa i Balcells report that we are about to adopt, we have proposals for rethinking the architecture of the euro area, and for creating eurobonds and a European treasury, but all of this takes time. We are talking about an emergency at the moment and, in this context, the only solution is in the hands of the European Central Bank (ECB). Technically, the ECB knows what needs to be done. It should not now be restricted by its mandate from intervening or acting. Its mandate is safeguarding the euro, not dealing with inflation. At times like these, there is no doubt: saving the euro and doing what is necessary is what this Parliament and the public expect of the ECB. I wish you good luck and courage, Mr Draghi."@en1
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