Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-06-12-Speech-2-061-000"

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"en.20120612.5.2-061-000"2
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"Mr President, these proposals are a classic case of too little and too late. Greece is under the water and Ireland and Portugal are not far behind. But now Spain, a far larger economy, is having to bail out its own banks. Why should private debt be turned into public debt? Whether the money comes from the EU or from national treasuries, the story remains the same. The people who are now suffering from severe belt-tightening will be the ones who end up paying for the wrong decisions made by private companies. What this Parliament should be demanding is a serious investigation into Spain’s banks, notably Bankia, to understand how a hole of EUR 20 billion could suddenly emerge. Bailing out such banks without investigating how and where the money has gone is an act of irresponsibility and contempt towards European citizens. Enough is enough. We need to call time on this approach."@en1
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