Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-25-Speech-4-075"
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"en.20100325.3.4-075"2
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"The European Union as a whole and the euro area in particular are in a grave situation. Greece is on the verge of bankruptcy and Spain and Portugal are also in difficulties. Because of the seriousness of the situation, new proposals are constantly being made. On the one hand, people are talking about giving the European Monetary Fund extensive rights of intervention. On the other hand, the Commissioner for Economic and Monetary Policy, Mr Rehn, is calling for Brussels to be involved in the budgetary planning of the Member States. The European Union obviously wants to use the current crisis to strip the Member States of their financial autonomy, which is one of the last core areas of national sovereignty remaining to them. However, taking another huge step towards a centralised European superstate will not solve the existing problems. On the contrary, it will further exacerbate them. The alarming state that the monetary union finds itself in and the fact that the euro has become a high-risk currency are a result of countries such as Germany, the Netherlands and Austria, on the one hand, being brought together with states such as Greece, Italy and Spain, on the other, with a deliberate disregard for the existing differences between them concerning their economic development and the ethos on which their financial policy is based. These historical differences, which not only relate to the economy, must be taken into consideration, instead of further tightening the existing centralist constraints on the European nation states."@en1
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