Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-22-Speech-2-377-000"

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"Mr President, Mr Van Rompuy’s invitation to the informal summit tomorrow – a letter that comes to three pages – includes, right at the end, a laconic sentence, which I will now quote: ‘At the very end of our dinner, I propose that we discuss recent developments in the euro area’. It would be almost funny if the situation were not so serious. There is an elephant in the room, but if we all act as if there were not, maybe it will go away, or at least we will believe that it has gone. How can we talk about investments, economic growth and jobs without, at the same time, looking at these matters in the light of the euro crisis, which hangs like a sword of Damocles over the prosperity of the countries of the euro area. In recent weeks, we have heard another couple of odd pronouncements, for instance, from a European Commissioner who called a Greek exit from the euro area, and I quote, ‘the end of civilisation in that country’, no more and no less. It is precisely that kind of self-blinding that makes it impossible to achieve real solutions. Those solutions are not to be found in a blind leap to policies such as direct European taxation, community eurobonds or a European ‘redemption fund’, which would lay yet more taxes at the door of the net payers, and would only encourage irresponsible behaviour on the part of some net recipient countries. The result of this would be that the economic problems would only get worse."@en1
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