Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-07-02-Speech-1-173-000"
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"en.20120702.22.1-173-000"2
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"Madam President, the decision at the European summit last week to unshackle banking debt from sovereign debt is very welcome. Ireland has borne a disproportionate burden arising from our banking system collapse. Indeed, the Irish people were not responsible for the global banking crisis, yet they are being asked to pick up the tab for irresponsible decisions made on their behalf or because of a lack of control or regulation.
The concrete decisions made at last week’s summit will enable Ireland to emerge from the troika programme and hopefully will facilitate a speedy return to the markets. Indeed, this was the hope when the Irish people voted for the Stability Pact on 31 May, yet if we had listened to those who advocated a ‘no’ vote and who wanted to veto the ESM, none of this would have been possible.
But the current focus on banking union and closer fiscal union should not lose sight of the need to provide a social dividend. In that context, the commitment to a EUR 120 billion investment package, additional resources for the European Investment Bank and agreement on project bonds are most welcome, as is the language and the emphasis on growth and public investment. I believe that the next step must be a social investment pact which will help us achieve the goal of a fairer society."@en1
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