Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-25-Speech-4-027"

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"Mr President, Mr Trichet, Commissioner, ladies and gentlemen, the king has no clothes! The gravity of the situation has been accurately described. Now it is useful to concentrate on the treatment, and the first step of this treatment can only be European economic governance, in the absence of which the economic system will not grow and the debt will become even less sustainable. Greece must be supported and helped, and a potential domino effect must be avoided in the case of those European countries with economies characterised by a weak level of competitiveness and elevated levels of debt. Real European governance must guarantee three objectives: 1) a policy of growth; 2) financial instruments suitable for sustaining that growth; and 3) a policy for managing emergencies. This morning, I have heard so many speeches exalting the virtues of the euro. Very well, I am obviously in agreement, but why not think of the euro as a currency that saves us not only from inflation but, by means of a little virtuous and guaranteed debt, also secures us greater liquidity to launch a major European investment programme by issuing Eurobonds? As far as managing emergencies is concerned, I agree with the idea of establishing a European Monetary Fund, which would be a sensible solution. Ladies and gentlemen, what I should like to say in conclusion, and say it clearly, is that at this stage it is no use temporising, drifting, waiting for the long night to end. A ‘Don Abbondio Europe’ is of no use to us. If Europe does not show courage today, when will it have to show courage?"@en1
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