Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-12-16-Speech-4-963"
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"en.20101216.15.4-963"2
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"I voted in favour of this resolution because there is a need for a permanent crisis mechanism in order to safeguard the financial stability of the euro The European Stability Mechanism and/or a European Monetary Fund should be based on solidarity, subject to strict conditionality rules and financed, amongst other sources, by the fines applied to Member States as the outcome of a procedure for dealing with excessive deficits, excessive debts or excessive imbalances. I believe that it is also important that the financing of the permanent crisis mechanism must be based upon the ‘polluter pays principle’, meaning that Member States creating bigger risks by their deficits and debt burdens should finance a larger proportion of the total assets. These penalties would be one of the means of avoiding financial and economic crises in euro area countries, such as the one that arose in Greece a few months ago and which is still continuing."@en1
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