Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-12-13-Speech-2-107-000"
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"en.20111213.5.2-107-000"2
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"The conclusions of the last European Council are extremely serious. The key words are ‘discipline’ and ‘penalties’, imposed by technocratic and supranational authorities that will force their budgetary and economic choices on the States from now on without consulting the national parliaments.
By refusing to ask the European Central Bank to buy back all or some of the debt of struggling States, the Council has decided to give carte blanche to the financial markets. Worse still, it has been decided that, for three years, the Central Bank will lend unlimited funds at a rate of 1% to private banks, thereby allowing them to get rich by taking money off the States, and hence the people, by lending to the States at high interest rates.
Democracy and national sovereignty are under threat; the principle of justice is coming under serious attack. This project is very worrying. I call for it to be opposed."@en1
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