Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-02-14-Speech-2-459-000"
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"en.20120214.21.2-459-000"2
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"Madam President, I consider the idea of introducing stability bonds to be premature in the context of the unresolved sovereign debt crisis and deficits in many European Union Member States. The issuance of common bonds, which some consider a ‘potentially powerful tool to address liquidity constraints in several euro area Member States’ would, in my opinion, only draw attention away from the acute and unresolved fiscal discipline problems.
The crisis requires implementation of, and strict adherence to, an adequate fiscal framework, and the concurrent revival of economic growth. The common continuation of public indebtedness would only deepen the current negative situation. Although some negative effects would be delayed and masked in the short term, the core problem, however, would remain unchanged. The introduction of commonly issued stability bonds would also radically change the structure of the euro area sovereign bond market and would introduce new and as yet little scrutinised risks for Member States."@en1
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