Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-02-01-Speech-3-053-000"

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"en.20120201.12.3-053-000"2
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"Mr President, let me mention one added value which we should exploit while looking at the implementation of the fiscal pact. Our economic policies are facing credibility tests by financial markets and we have to act in a spirit of unity and solidarity with the Union and avoid unnecessary divisions. Those who are macro-financially healthier should provide credibility to those who are macro-financially weaker. That leads me to two conclusions. First, we should share credibility via mutualisation of debt – being an added value added – in exchange for executable deficit and debt rigours. Second, given that 12 of the 17 euro area Member States exceed the golden limit of a 60% debt/GDP ratio, while only one of the eight future members of the euro area – non-euro area today – exceeds that limit, one could say that those healthier non-euro area countries provide credibility to the present members of the euro area, and not the other way round. It would be another added value for the euro area, and it would be in its interest, as a rule, to allow those countries to join euro area summits."@en1
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