Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-12-13-Speech-2-018-000"
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"en.20111213.5.2-018-000"2
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"Mr President, ladies and gentlemen, we have heard the statements from the Council and the results of the Council meeting from Mr Van Rompuy and also from Mr Barroso. Let us now talk about what really happened. The announcement that this Council meeting would bring stability to the markets was wrong. The reaction of the so-called markets over recent days does not show any signs of stability. There was no response concerning the role of the European Central Bank, which was a controversial topic before this Council meeting. Nothing at all was said on the subject of a pact for growth, employment and stability in Europe based on job creation. The answer to the problem of financing the crisis countries, which will have to make several hundred billion euro available on the markets in the first three months of next year, and which currently have bond spreads of more than 7%, was wrong.
What is happening with the European Financial Stability Facility (EFSF)? Why is it being brought forward? What will happen in the period before it comes into force? Will it be granted a banking licence? There was no answer to any of these questions. Do you call this a stability union? Now we come to the behaviour of the United Kingdom. We have given urgent warnings about even starting a debate on the Treaty, because it is obvious to everyone that if you start the debate on the Treaty, there will be attempts at blackmail involving a commitment to agree to Treaty reform only if a certain price is paid. What price did the British Prime Minister demand? An opt-out from the Working Time Directive, that is absolutely clear, and no further regulation of the financial markets. This is the price we would have to pay. I believe the fact that the other 26 states were not prepared to pay this price is a good sign. We cannot be blackmailed into introducing no more regulation by the very people who have pushed us into this severe financial market crisis, in other words, the financial markets themselves and the speculators in the City of London. That is not acceptable.
I had expected, Mr Van Rompuy, that you would say something to us about the European Parliament. ‘The involvement of the European Parliament’ was the only sentence in which you mentioned it. I was expecting a little more. Therefore, I would like you to answer two specific questions.
Firstly, is it correct that the Council has agreed to set up a Euro++ group consisting of the 17 euro countries, plus the countries which want to join, in the form of a working group chaired by you and including the European Parliament? If that is not the case, please tell us. If it is the case, I would like to ask you why you are not saying so. Mr Barroso, you want to fast track your proposals of 23 November. You can do that, but I must say to you that Parliament can only tackle this legislation with you on one condition, and that is if there is a guarantee that in all the subsequent stages, the European Parliament will sit at the table as the third partner, together with the Council and the Commission. Otherwise, I can only recommend to Parliament not to become involved in any subsequent stages.
We are hearing constant institutional debates and constant reflections as to how we can extricate ourselves from the mess which we have got ourselves into by taking temporary measures under the terms of the Treaty. Every time, and I have to say this once again and it is also directed at you, Mr Barroso, we are told that we need to regain the confidence of the markets. Whoever these markets might be, and I prefer to talk about speculators, banks, insurance companies and large fund investors, rather than markets, their interest lies only in maximising their capital. Are they really the people whose confidence we need to regain? No! How would it be if we were to discuss how we can finally regain the confidence of the people of Europe in the European Union?
As the parliamentary representatives of the citizens of Europe, we must guarantee that this happens. Therefore, I would like to say once again in conclusion that we in the European Parliament would be well advised, and I believe that my fellow Members will agree with me, when we sit together with the other institutions in Mr Van Rompuy’s working group between now and March, to make some alternative proposals of our own as to how we can create stability in the European Union, most importantly by supporting growth, employment and social security for the people of Europe. There will be no market-based democracy. What we need is a market which is subject to democratic rules and these rules must be drawn up and enacted here in the European Parliament."@en1
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