Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-22-Speech-3-200-000"

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"Mr President, the Greek crisis is one of the factors forming the basis of this debate. Lending more money to the Greeks and demanding they implement more cuts is unwise. The Greeks will never be able to repay the loans and an economy which is as good as dead cannot make cuts. You cannot ask a skeleton to tighten its belt. What we need, then? First of all, those in this House who brought Greece into the euro area should confess their guilt, as should the Belgian Finance Minister, Mr Reynders. Obviously, this should never have been allowed to happen. Secondly, part of the Greek debt must be written off and, in order to ensure that the residual debt is indeed repaid, a multi-year recovery plan for the Greek economy should be drawn up. Thirdly, the Stability and Growth Pact should include automatic sanctions against those who break the terms of euro membership, as we should never again allow ourselves to slide into this misery. On this point, I think that the Wortmann-Kool report could have been more stringent. Mr President, I support the ‘six-pack’, but because of this point I will abstain from voting on the Wortmann-Kool report."@en1

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