Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-06-12-Speech-2-065-000"

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"en.20120612.5.2-065-000"2
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"Mr President, ladies and gentlemen, the crisis goes on. The measures adopted in recent months, or even years, have failed to convince the markets on a durable basis. There is an urgent need for the Member States to take seriously a disciplined, balanced budgetary policy. The ‘two-pack’ can help to make progress in that direction. It can provide the basis for stability and growth. However, a whole series of amendments are once again being tabled, with the aim of watering down the proposals. We do not need a watered-down ‘two-pack’, however. What we do require is a genuine act of release. This act of release could consist of two elements. The first element would be the debt redemption fund already mentioned by a number of speakers, which would help to consolidate the inherited debts and spread them out over a period of 25 years. The second element would be that we have to achieve real progress in the conversion of the euro area into a true internal financial market, in other words, into an internal market with cross-border banking supervision, a cross-border deposit guarantee fund and a uniform cross-border banking rescue and resolution regime."@en1
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