Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-12-01-Speech-4-277-187"
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"en.20111201.35.4-277-187"2
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"I voted in favour of this important document. The European Central Bank (ECB) plays an important role in maintaining price and financial stability as well as proper liquidity in financial markets. The continuing financial crisis in the EU and the increasing lack of economic convergence in euro area countries and in countries whose currency is pegged to the euro continues to be one of the most serious problems for the single monetary policy. I believe that the European Union needs common fiscal governance, which would cover not just countries in the euro area but also those Member States whose national currency is pegged to the euro and that are directly affected by all the decisions adopted by the ECB. On more than one occasion, I have proposed setting up a European credit rating agency as a matter of urgency, which would enable us to assess the economies of the Member States objectively and independently, based on clear and transparent rating criteria. I also welcome the report’s call for the Commission to take all the steps needed to establish a European Monetary Fund so that the International Monetary Fund will not need to be involved in Europe’s credit policy, thereby reducing the Member States’ dependence on other international institutions."@en1
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