Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-05-11-Speech-3-585-000"
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"en.20110511.35.3-585-000"2
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"Mr President, currently we are celebrating the first anniversary of the Greek bail-out, but there is nothing to celebrate. One year later, we are back at square one. Instead of lengthening the pain and piling even more burdens on the Greek economy, it would be far better to accept the inevitable and the judgment of the markets.
There is no way to avoid default. An orderly default has at least five advantages. It would share the loss more fairly between Greek taxpayers and external creditors; stop the replacement of private debt by an ever-growing proportion of official debt coming from other countries; offer Greece more growth opportunities by alleviating debt service; make it much easier for Mrs Merkel to ‘sell’ the default to the Bundestag, because it would mean supporting German banks rather than Greece; and, finally, isolate the debt crisis from the competitiveness crisis and save the eurozone from contagion.
Do it! Do not throw good money after bad."@en1
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The resource appears as object in 2 triples