Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-12-01-Speech-4-279-500"
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"en.20111201.35.4-279-500"2
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"The European Central Bank (ECB), founded on 1 June 1998, is the EU institution responsible for the monetary policy of the Economic and Monetary Union, and its main objectives are to preserve the purchasing power of the euro and ensure price stability in its respective area. The importance of the euro is unquestionable, and without it, the global financial crisis would have been much worse for the majority of European countries. Recently, we have also been able to see the way in which its intervention can calm the markets. Given the crisis that the EU is experiencing, now more than ever, it is vital that we have a strong and stable euro in order to ensure that the single market and the movement of people and goods are successful. In fact, it was not the euro that failed; the failure came from the governance of the euro area, and, in particular, the breach of the Stability and Growth Pact. I believe that the ECB has maintained a balanced and constructive approach, making appropriate use of the mechanisms at its disposal, including issuing money, seeking to keep markets stable and exercising supervision at macro level. I therefore voted in favour of the ECB Annual Report for 2010."@en1
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