Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-12-15-Speech-3-043"

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"Madam President, we Europeans are living with an interesting paradox. On the one hand, during its 12-year existence, the euro has proved to be the most stable of the global currencies. According to official figures provided by the European Central Bank in Frankfurt, average inflation during this period has been 1.97%, which is only 3 percentage points below the 2% target. The euro’s value against the US dollar has, throughout, to all practical purposes, remained higher than it was when the European currency was established. On the other hand, though, we have been hearing stories lately that the euro might even be at the risk of collapse. How could we have got into such a situation? Grotesque and irresponsible behaviour caused by the populist policies of both the left and the right has brought us to this point. However, in defending our currency, are we really going to allow democracy to prove weaker than relatively authoritarian regimes? We need responsible behaviour, we need five golden rules of responsible behaviour to be enshrined in our policies. Let us adopt them here in Parliament, let us decide how we are going to measure the level of responsible behaviour and behaviour which benefits the common good promoted by the policies in our Member States. The tax on financial transactions and eurobonds should therefore be the cornerstone. That is our duty today, to adopt such policies, in defence of our common currency."@en1

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