Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-06-13-Speech-3-275-250"
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"en.20120613.24.3-275-250"2
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"The economic and financial crisis has forced the Member States to adopt measures restricting consumption, cutting wages and postponing the retirement age. Some EU Member States have not managed to emerge from the crisis by these means alone and have had to request financial help from the European institutions to obtain the support of certain bodies, such as the European Financial Stability Facility, the International Monetary Fund and the European Central Bank. The crisis is an ‘octopus’, whose tentacles threaten to reach a number of European countries. After Ireland, Greece and Portugal, it went on to Spain and is now hovering over Italy. Measures urgently need to be created to check its advance, since we know that the consequences of one Member State’s indebtedness can have an impact on another, and even globally, because the corrective measures are slow acting. I voted for this report on the proposal for a regulation of the European Parliament and of the Council on the strengthening of economic and budgetary surveillance of Member States experiencing or threatened with serious difficulties with respect to their financial stability in the euro area, which sets out new procedures, such as enhanced powers for the Commission and the qualified majority rule."@en1
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