Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-09-12-Speech-3-107-000"
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"en.20120912.4.3-107-000"2
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".
When the President of the European Central Bank (ECB), Mr Draghi, says that the euro is irreversible, this is nothing more than an admission that we have been taking the wrong path, which is intended to lead to the creation of a transfer and debt union. When the ECB buys government bonds from ailing states, it is bending if not breaking the law. Countries which for years have lived above their means are to be rewarded and those which have applied budgetary discipline are to be punished. Furthermore, Slovenia is a demonstration of what happens after the praise for an alleged star pupil has died down. A few years ago, Ljubljana was a model candidate and the threat of insolvency was ignored. However, instead of facing up to reality, they are obviously cheating and making the situation seem better than it is. The question also arises as to who should pay for the whole euro disaster. We cannot continue asking the economically successful euro countries, such as Germany, Austria and the Netherlands, to come up with the cash. This simply will not work. They have already reached the limits of their ability to pay and if Spain requires more money than is currently expected and if Italy also turns out to need the euro rescue package, they will be the last dominos to fall. Therefore, we need to put in place rules as quickly as possible for excluding bankrupt states from the euro zone."@en1
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