Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-07-Speech-2-230-000"

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"en.20110607.23.2-230-000"2
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"Mr Zahradil, first of all, unfortunately, the economic problems that we have in Europe are not only in the euro area. Some Member States outside the euro area are also involved in balance of payment support programmes through the Commission and the IMF. Regarding the euro area, as you say, there are discussions ongoing between the Member States, the Council, the Commission and the European Central Bank on achieving the best possible comprehensive response. As you know, there is not always expert agreement on the best way to obtain that response. This is still ongoing work. It is fair to recognise that these issues are extremely difficult and complex. The magnitude of the challenge is unprecedented and it requires some work of convergence. That is why the Commission has been extremely prudent in the way it communicates on that matter because some of these issues are market sensitive. One thing is clear: as we have said, restructuring is not an alternative to the painful fiscal consolidation efforts that all the Member States have to make if they want to correct their imbalances in terms of deficit and debt."@en1
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