Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-07-03-Speech-2-060-000"
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"en.20120703.5.2-060-000"2
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"Mr President, I should like to ask Ms Harms whether what she describes as a comfort – the prospect of joint liability, common risk – does not necessarily also entail shared political control, or should be viewed in parallel with this. After all, the debts for which we are jointly liable today are the taxes of tomorrow. No taxation without representation. That is a very important point.
My second, very specific, question is as follows. You said that bank risk should be separated from sovereign risk, and that we have now succeeded in this. However, the European Stability Mechanism, which is currently recapitalising the banks, is borne by sovereign states. In other words, sovereign risk is being distributed differently, but it is still there. What is your assessment of this? I take a very critical view of it, and where the conclusion of the Euro Group is concerned, I am decidedly sceptical as regards how vague it has been kept and what impact it will have in practice."@en1
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