Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-06-13-Speech-3-027-000"
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"en.20120613.6.3-027-000"2
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"I accept that, for a single currency to work, there has to be a whole series of different measures. There have to be significant fiscal transfers from the richer states to the poorer states.
It is fine for me to say that as somebody who is quite happily outside the single currency. If I were a German taxpayer, I might have one or two concerns about it.
As for this issue of the budget – that somehow a euro spent at European level somehow magically appears from this magical money tree without any impact on national budgets – I just say one thing. It is surely illogical for the Commission – for Mr Lewandowski and Mr Barroso – to be saying to Member States: ‘you have to impose austerity, you have to reduce your budget, you have to get your fiscal balances under control – oh, but by the way, we want more of your cash taken to a European level to spend on your behalf because we know how to spend it better than you do’.
Member States are not sitting there with large piles of cash. They are all running fiscal deficits. What the Commission is saying to them is: ‘We want you to add to your fiscal deficit in order to give us more money because somehow our spending lots of money at a European level will solve the crisis’. Frankly, only a Liberal Democrat could believe that would be the solution to the crisis."@en1
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