Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-05-10-Speech-2-728-000"
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"en.20110510.68.2-728-000"2
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"Mr President, Commissioner, ladies and gentlemen, stress tests are the latest thing. We have a deep economic and financial crisis, so we will make our banks take stress tests! We have a nuclear crisis, so let us make our nuclear power stations take stress tests! As if the very idea of stress tests was going to reassure our fellow citizens or the financial market. Because, clearly, everything depends on the possibilities they cater for, and as you said, Commissioner, we cannot say that last year’s financial stress tests were very credible from that point of view.
Furthermore, the nuclear stress tests, as your colleague Mr Oettinger acknowledged this afternoon, are also a big joke – they have been so far anyway – since the possibility of an aeroplane crashing into a power station has not been taken into account. I would therefore like to say that, in a case such as that, where an aeroplane crashes into a nuclear power station, there is clearly a default risk.
Commissioner, you say that plausible possibilities should be taken into account, and so we are not taking into account the possibility of a sovereign State defaulting in Europe. I would therefore like to make the following point: either you regard this as a possibility to be rejected, and if so I would say to you that you are in denial, because the figures of the Greek debt and the Irish debt clearly show that, sooner or later, those States are going to have to restructure their debt, or you are playing for time, and if so I would say to you that that is equally irresponsible, because the longer it takes to tackle the issue, the more it will cost society as a whole. I therefore appeal to your sense of reality and responsibility in this matter, Commissioner.
You are an ambitious European; you know that the people whose stress levels are tested every day are our fellow citizens, who know only too well that, until we take the bull by the horns, we will be unable to guarantee their security or the security of the financial market. Taking the bull by the horns today means radically restructuring the finance industry in Europe. I know that you have started, but this also implies the need for a European budgetary federation. We will discuss this point again tomorrow, however."@en1
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