Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-06-13-Speech-3-109-625"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2012-06-13"^^xsd:date2
dcterms:Is Part Of	lp_eu:Preparation for the European Council meeting (28-29 June 2012) - Multiannual financial framework and own resources (debate)2
dcterms:Language	"pl"^^xsd:language2
lpv:document identification number	"en.20120613.6.3-109-625"2
lpv:hasSubsequent	lp_eu:2012-06-13-Speech-3-109-7502
lpv:speaker	lp:Sławomir Nitras2
lpv:spokenAs	unknown; Platforma Obywatelska (2009-07-14--2014-06-30)3 substitute; PECH (2012-01-19--2014-06-30)3 member; EPP (2009-07-14--2014-06-30)3 substitute; Delegation for relations with the countries of Southeast Asia and the Association of Southeast Asian Nations (ASEAN) (2011-09-29--2014-06-30)3 member; Delegation to the EU-Russia Parliamentary Cooperation Committee (2009-09-16--2014-06-30)3 member; ECON (2012-01-19--2014-06-30)3
lpv:translated text	"A European Council summit is to be held in June, and the main item of business will once again be the crisis in the euro area. Putting the economic situation back on its feet requires measures which are effective in macro-economic terms but which are also acceptable politically. The many aspects of the financial crisis and the lack of a firm political response at the outset mean that there is not now an easy and painless way out of this difficult situation. The euro area is still in need of urgent reforms. Some of them have already been carried out – the ‘six-pack’ should be mentioned here, as well as the ‘two-pack’, on which work is currently in progress. However, these pieces of legislation are only an answer to some of the institutional problems involved, and their effect will only be seen in the long term. Meanwhile, the way the financial crisis is continuing to get worse requires action which will have an immediate effect, because the crisis of confidence and pressure from the market are today seriously impairing the Member States’ ability to refinance their debt. The forthcoming summit is an excellent opportunity to make bold decisions. First and foremost, measures should be adopted which do not require treaty changes, that is, steps to make the process of fiscal adaptation more flexible and to improve the firewall to give greater protection to the financial systems of peripheral states. The next stage should be institutional reform of the euro area, by which I mean creation of a common system of recapitalisation and restructuring for banks and a common system for protecting deposits, and development of a plan for at least the partial mutualisation of public debt."@en1

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