Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-09-11-Speech-2-447-250"
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"en.20120911.32.2-447-250"2
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"After the latest request for bailout funds from Spain and now one from Cyprus as well, the first course of action, in my opinion, still ought to be that any country that is simply too weak macro-economically and that cannot keep pace with the requirements of a hard currency union is asked to leave immediately. A residual monetary union would certainly be preferable to the current situation, not least because, in this constellation, the traditional hard currency countries of the former Deutsche Mark block would be in a corresponding majority and could therefore formulate an appropriate monetary policy. However, because of international pressure on Germany, we are still not seeing any of this long-needed downsizing. It is clear to see that Germany is either too weak, too dispirited or, for other reasons, reluctant to take steps that would not only be reasonable, but which are also desired by a large majority of its own population. It is now time that we stopped further financial injections to ailing EU Member States. Considering that the European Union is facing a profound competition crisis and that most other regions in the world are achieving much faster growth and higher productivity, as well as a higher degree of innovation, leaving the European Union to trail behind if no decisive countermeasures are taken, I voted against this resolution because it has failed to steer us away from the wrong path that we have been down before."@en1
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