Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-05-17-Speech-1-062"

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"en.20100517.14.1-062"2
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"Mr President, the eurozone came extremely close to meltdown 10 days ago, but the European rescue package has given our common future a chance. I believe the crisis has more to do with deep-rooted problems in some eurozone Member States than with speculators: Member States with fiscal indiscipline, inefficient labour markets and massive debts in the private sector. To save the eurozone, we have to reform its governance. Last week’s governance proposal from the European Commission contained some good ideas: for instance, much more emphasis on fiscal policy and a clear coordination in fiscal policies between Member States. These proposals should also take into account a common programme of structural reforms. In Spain last week, Mr Zapatero chose the austerity programme so that he could avoid the electorally riskier labour-market reform. Finally, do not worry about the value of the euro: the common currency’s fall is good for the eurozone economy."@en1
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