Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-05-10-Speech-2-737-000"
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"en.20110510.68.2-737-000"2
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"Mr President, lest we forget that there are people affected by these problems, I met a young Irishman on the flight to Frankfurt today, on his way to Australia with a one-way ticket, and he is just one of thousands who are doing this because of our economic and banking problems.
Would the Commission accept that the damage done to Europe’s credibility by the fudging of the first banking stress tests – and I say this with great regret – is almost irreparable? European Union citizens are looking on in distress at what has happened in relation to banking. We have damaged confidence in the European Union and in the eurozone.
As you know, the Irish banking sector has had its second round of stress tests and the new government has put in place a restructuring plan. The additional capital required was EUR 24 billion. The impact on the Irish economy now is that good enterprises are starved of capital as banks struggle to meet the various requirements. This is an impossible scenario, and I would ask the Commissioner to address it."@en1
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