Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-10-22-Speech-1-157-000"
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"en.20121022.22.1-157-000"2
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"Mr President, last June the European Council agreed to break the link between bank and sovereign debt. Within weeks, Finnish, Dutch and German finance ministers said ‘no’. Last week’s Summit reaffirmed the June agreement, but within hours Chancellor Merkel announced it would not apply retrospectively. There was total shock and utter disbelief in Ireland.
Three years ago four million Irish citizens were overnight burdened down with socialised bank debt – the biggest bail-out in history. Yes, Irish banks were saved but so were French, German and British banks, and at the insistence of the ESM. The ESM which we voted for – the only EU citizens to do so – has been dangled in front of our noses only to be cruelly whipped away when it seemed as if it might be of some use to us.
Chancellor Merkel said last night that Ireland was a unique case, and so it is, but legacy debt, bank debt, must be dealt with in a European context. We want to succeed, but if the tools we need and the solidarity we have earned are not available to us, then we need to reappraise, because to play our part in helping to save the euro and then see our own economy and social solidarity destroyed as a consequence is simply not an option."@en1
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