Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-07-06-Speech-2-446"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2010-07-06"^^xsd:date2
dcterms:Is Part Of	lp_eu:European Financial Stability Facility and European financial stabilisation mechanism and future actions (debate)2
dcterms:Language	"de"^^xsd:language2
lpv:document identification number	"en.20100706.29.2-446"2
lpv:hasSubsequent	lp_eu:2010-07-06-Speech-2-4472
lpv:speaker	lp:Franz Obermayr2
lpv:spokenAs	substitute; EMPL (2009-07-16--2012-01-18)3 substitute; Delegation to the EU-Kazakhstan, EU-Kyrgyzstan and EU-Uzbekistan Parliamentary Cooperation Committees, and for relations with Tajikistan, Turkmenistan and Mongolia (2009-09-16--2014-06-30)3 unknown; Freiheitliche Partei Österreichs (2009-07-14--2014-06-30)3 member; Delegation for relations with Iran (2009-09-16--2012-02-12)3 member; REGI (2009-07-16--2012-01-18)3 member; NA (2009-07-14--2014-06-30)3
lpv:translated text	"Madam President, in the event of a crisis in other Member States, EU countries should now no longer bail them out with direct financial packages, as has been the case until now, but stand surety for them. This sounds a really good idea, but it does not by any means get rid of the basic problem. The problem is that countries in the euro area, with far-reaching differences in terms of financial policy and difficult financial policy conditions, are naturally faced with extremely tricky situations. In such cases, the problem is just shifted, and the guarantor himself is quickly made into a debtor. Besides, the issue arises concerning the dependency of rating agencies. To be able to secure capital at the lowest possible interest rate, the European Financial Stability Facility would therefore have to achieve the best rating from the rating agencies, which would make this instrument particularly dependent on US agencies. Consequently, it does not make sense to create a public company, entrust it with such important duties and then put it under the huge influence of private rating agencies. However, with a European version of the agency, the question arises as to how to guarantee a neutral rating. I find, therefore, that this measure has not been thought through well enough. It poses the risk again of Member States running up debts at the expense and liability of others."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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