Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-12-01-Speech-4-282-000"

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"en.20111201.35.4-282-000"2
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"This report addresses the actions and activities of the European Central Bank during this critical period of stress in the eurozone and the wider European economy. The ECB has a crucial role to play in containing the threat of sovereign debt and banking crises in the eurozone, in the absence of clear and credible long-term arrangements being put in place. This report fails to support the ECB in undertaking this urgent role. The report also includes a call for the establishment of a new European Finance Minister and a European Treasury. It is a matter for eurozone members to determine whether such institutions should be put in place for the eurozone but Labour Euro MPs do not support any implication that such bodies should apply to non-eurozone Member States and believe consideration of Treaty change for such matters is a distraction at this time of crisis. We therefore abstained on this report."@en1
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