Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-25-Speech-4-998"

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"en.20100325.3.4-998"2
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"Mr President, the debt crisis in Greece has raised questions about our ability to maintain the stability of the euro area. I am convinced that the strength of the single currency will be guaranteed if the rules we have agreed upon are followed in every single Member State. It has been said that, as well as Greece, there are other European Union Member States which can expect serious financial difficulties. In addition to the soaring national debt, some Member States have also reached almost dangerous levels of government spending, something which the European Central Bank was already concerned about a couple of years ago. The euro is an anchor to which the Member State economies are tied. Actions by any Member State which weaken the euro are unacceptable. I consider it essential that every country fulfils the conditions set up for the euro area. At the same time, I support the collective approach to looking for solutions, including compiling an aid package for Greece, tightening the regulations concerning the single currency and carrying out stricter supervision. The idea of the possible creation of a European Monetary Fund, which was raised as a result of the Greek crisis, is an approach which could prevent potential problems, but we should not forget the overseas factors operating in a globalised investment market, which necessarily have an impact on the euro area. It is, therefore, clear that at a national level, we should henceforth concentrate more on creating legislation which would protect the euro from the influence of dangerous factors, both internal to the European Union and outside it."@en1

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