Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-06-12-Speech-2-066-000"

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"Mr President, the global crisis has had an adverse impact on the global economy for over three years now and it is, unfortunately, the European economy that has suffered the most. The crisis has caused significant disruption to basic economic growth and financial stability. As we all know, excessive debt can have dramatic consequences, and not only for the country concerned, but for entire regions, in this instance, the euro area. I believe that we should give consideration to an honest assessment of whether it is not just the reputation of the euro area which is at threat, but its very existence. The EU was taken by surprise by a scenario far bleaker than that for which it was prepared. It did not have the necessary tools at its disposal. Will this now change after the adoption of the ‘six-pack’ and the addition of the ‘two-pack’? We shall see. In my opinion, it is plain as day that anyone who builds a house by starting with the roof, and not by choosing a patch of solid ground and building the foundations, cannot expect the outcome to be good. The rapporteur supports the Commission’s proposal to step up surveillance and to take early preventive measures instead of corrective action when it is already too late. Will this be enough? We shall see, but I doubt it."@en1
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