Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-04-05-Speech-2-045-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-04-05"^^xsd:date2
dcterms:Is Part Of	lp_eu:Conclusions of the European Council meeting (24-25 March 2011) (debate)2
dcterms:Language	"de"^^xsd:language2
lpv:document identification number	"en.20110405.3.2-045-000"2
lpv:hasSubsequent	lp_eu:2011-04-05-Speech-2-046-0002
lpv:speaker	lp:Wolf Klinz2
lpv:spokenAs	member; Conference of Committee Chairs (2009-10-15--2011-07-31)3 member; Delegation for relations with the countries of Southeast Asia and the Association of Southeast Asian Nations (ASEAN) (2009-09-16--2014-06-30)3 member; ALDE (2009-07-14--2014-06-30)3 substitute; DEVE (2009-07-16--2011-10-25)3 unknown; Freie Demokratische Partei (2009-07-14--2014-06-30)3 member; ECON (2009-07-16--2012-01-18)3 vice-chair; Delegation for relations with Canada (2009-09-29--2014-06-30)3 chair; Special Committee on the Financial, Economic and Social Crisis (2009-10-15--2011-07-31)3
lpv:translated text	"Madam President, Mr Barroso, Mr Van Rompuy, listening to you carefully one gets the impression that everything is ship-shape: the euro is secure, we have a new Stability and Growth Pact, we have an ESM and we have a Euro Plus Pact. I would say this quite clearly: ‘While I have heard the message, I am not sure I believe it.’ We should not lose sight of the starting point for all these deliberations and measures, namely the run-away debt of some euro Member States, the loss of competitiveness, economic distortions and, as a consequence, an increasing current account deficit that has to be financed. It is already obvious that many Member States will not be able to meet the conditions of the new Stability and Growth Pact with the best will in the world. The ESM will not help to overcome economic distortions because no one has seriously faced up to the idea that a euro Member State could become insolvent and because the prospect of financial aid from the ESM will lead to further laxity. The so-called stringent regulations will prove to be relatively lightweight in practice. The need for unanimous resolutions is resulting in the horse-trading that was a familiar fixture in the past. Finally, the pact for the euro is much too non-committal to cause destitute countries to implement far-reaching real economic reforms. Overall, therefore, I fear that we will not succeed in eliminating the root cause of the problem. We shall have a permanent overdraft facility whose credit parameters will have to be increased at regular intervals. This will turn into a bottomless pit and the citizens in the states that will have to foot the bill will find themselves duped once again. Public confidence in Europe will decline even further as a result."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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