Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-06-12-Speech-2-038-000"
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"en.20120612.5.2-038-000"2
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"Mr President, tomorrow, the ‘two-pack’ will be voted in plenary. After six months of negotiations, we may have a strong Parliament position. We will vote on new rules on enforcing control of Member States’ finances but also on instruments that may help us out of this crisis. I am talking about the European Redemption Fund, an instrument that combines fiscal discipline and European solidarity, which are not contradictory terms.
It is our responsibility to show the world that our single currency is irreversible, and that we are not ready to go back to national currencies. In this respect, the European Redemption Fund is the only realistic and achievable debt mutualisation instrument that we can get in the short run. The European Redemption Fund is a voluntary, temporary and partial debt mutualisation tool strongly related to fiscal discipline.
Eurobonds will be for the next crisis, not for this crisis. Talking to our citizens about eurobonds as if they were something for next month is populism. We cannot lie to our citizens, ignoring the fact that convergence in fiscal discipline and in a common fiscal stability culture is needed before eurobonds. On the other hand, doing nothing could also be morally unacceptable. While some countries are financing themselves without cost in the short run, other countries are rapidly becoming insolvent due to the increasing cost of their new debt issues. This is why I call on all Members of this Parliament who believe in the European project to vote in favour not only of the two reports, but also of the European Redemption Fund."@en1
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