Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-12-01-Speech-4-282-250"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-12-01"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"de"^^xsd:language2
lpv:document identification number	"en.20111201.35.4-282-250"2
lpv:hasSubsequent	lp_eu:2011-12-01-Speech-4-282-6252
lpv:speaker	lp:Andreas Mölzer2
lpv:spokenAs	substitute; AFCO (2009-07-16--2012-01-18)3 member; NA (2009-07-14--2014-06-30)3 member; AFET (2009-07-16--2012-01-18)3 member; Delegation to the EU-Ukraine Parliamentary Cooperation Committee (2009-09-16--2014-06-30)3 unknown; Freiheitliche Partei Österreichs (2009-07-14--2014-06-30)3 substitute; Delegation to the EU-Chile Joint Parliamentary Committee (2009-09-16--2014-06-30)3
lpv:translated text	"With its intervention in the bond markets, which has been happening since May 2010 and has so far amounted to over EUR 200 billion spent on government bonds from highly indebted member countries of the euro area, the European Central Bank (ECB) has definitely exceeded its mandate. At the end of the day, the ECB is only responsible for the purchasing power stability of the euro. Its primary role is to keep inflation within the single currency zone in check. The ECB may view its purchases as being important for the stability of the capital markets. However, the reality is that the fact that the ECB has been operating in the grey area between fiscal and monetary policy has in no way pushed down the interest burden on the crisis states within the euro. Once credibility is lost, the costs associated are enormous. In this crisis, the ECB must not, under any circumstances, continue its current errant approach. I therefore voted against this report."@en1

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