Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-03-13-Speech-2-040-000"

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"en.20120313.6.2-040-000"2
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"Mr President, people lose confidence in Europe because its leaders are misdiagnosing the euro crisis. In 2010, Mr Barroso said the euro is a protection shield against the crisis, but the euro fuelled the crisis – cheap money generated debt and bubbles. Last year, Mr Van Rompuy said the fundamentals of the euro are sound, yet the euro caused a huge competitiveness gap in its own zone. Last year, he said that stress tests show that European banks were doing well; recently, the ECB injected EUR 1 trillion to prevent their collapse. Last weekend, he said the worst of the crisis is behind us; on the same day, German Minister of Finance Mr Schäuble, said Greece may need a third bail-out. The day before, the President of the ECB, Mr Draghi, predicted that there was more economic contraction to come, and Spain announced it would break the fiscal compact shortly after signing it. Even the Dutch Government, the headmaster of fiscal discipline, is struggling. Mr Van Rompuy and Mr Barroso, are you amazed that ordinary citizens do not believe you any more?"@en1
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