Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-04-22-Speech-3-063"

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"en.20090422.5.3-063"2
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"Thank you, Madam President. The increase in the European Union medium-term financial assistance mechanism to EUR 50 billion is the response that is needed to the current situation. It is an important signal to European Union Member States which are not in the euro zone, and particularly to those Member States that have joined the European Union comparatively recently. The effect of the world financial crisis on the financial and economic situation in this group of states has differed, but in all of them local and international confidence in those states’ financial systems has diminished significantly. Therefore, the reinforcing of the Community assistance mechanism is a demonstration of solidarity between Member States; it will have a stabilising role on the financial markets and will serve to reduce the risk of instability in the European Union’s economy as a whole. The strengthening of the medium-term assistance mechanism will also make it easier for Member States to obtain the funding they need from international financial institutions. I support the proposal by the relevant committee to instruct the Commission to inform the European Parliament about memoranda of understanding with Member States in receipt of assistance, as well as the need to carry out a check in two years’ time on the conditions providing the basis for assistance. Thank you."@en1
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