Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-11-18-Speech-2-424"
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"en.20081118.33.2-424"2
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"Mr President, Commissioner, may I begin by responding briefly to two statements made by fellow Members. First, I should like to point out that countries not in the euro area are not required to maintain a fixed exchange rate with the euro. Poland is an example of a country with a floating exchange rate. Second, I should like to say that even a country which has a perfect domestic policy and makes no mistakes could be affected by the crisis, due to the contagion effect. Of course, the Hungarian situation largely originated in incorrect government policy, but Hungary had also been affected by a flight of capital, which was not the result of the Hungarian situation, but had external causes.
Commissioner, I wish to support the Commission’s proposal. It seems to me to take into account the fact that we are all in a single market, and that the situation of individual countries is of importance to the other countries. We should therefore be aware of the ties that bind us and feel a sense of joint responsibility for our partners. The proposal is also an expression of European solidarity, which should be among the main values underlying our actions.
The amount of EUR 25 billion proposed by the Commission seems reasonable, though of course there could be situations requiring more money, and therefore I also support the proposal to grant the Commission the right to decide to revise the ceiling where there is an urgent need to do so. It is my view that using the full procedure involving the consent of Parliament or a parliamentary consultation would be impractical in such circumstances. Let us suppose that a crisis occurs in the summer, when Parliament is not sitting. It is hard to imagine that we would wait six weeks for Parliament to convene before helping the relevant state. I therefore support the Commission’s proposal granting it the right to raise the ceiling within a very short period of time.
May I also say that I see the proposal as lacking a reference to possible action on the part of the European Central Bank. The Bank granted a loan to Hungary. This action should be coordinated, and it is my view that a reference should be included. Finally, I think that the proposal should not refer to Article 100 of the Treaty. Article 100 deals with quite different situations and should therefore be treated separately."@en1
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