Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-03-23-Speech-3-064-500"

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"en.20110323.15.3-064-500"2
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"The single currency has brought greater freedom to Europe. However, freedom must always go hand in hand with responsibility. This is where the problem lies. Some Member States apparently did not take their own share of responsibility for the common currency very seriously. They now need to borrow more money for the gradual repayment of these debts, but the banks no longer trust them. The countries that acted responsibly had a choice: allow the debtors to go bankrupt, or show solidarity. As a staunch European, I am glad that the principle of solidarity prevailed. At the same time, however, I expect the new mechanism to be applied cautiously, in order to avoid what we see happening today, with both Greece and Ireland requesting more aid on top of the original amount. I also expect that our solidarity will not be abused by those who need it, or by those who are seeking a convenient pretext for tax harmonisation and other ways to curtail Member State sovereignty."@en1

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