Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-14-Speech-3-016-000"

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"Mr President, if you kick the can down the road, your shoes get dirty. That is what we have done with the euro. From the outset, the euro has been a political project ignoring economic realities. Whenever a problem arose, we kicked the can. But now realities are flying in our face. We are pushing Greece into a hole from which it will never emerge without devaluation. Iceland took austerity measures, but it also devalued its currency by 40%. Now its economy is growing again. Greece will have to do the same. Its default is a matter of time. Some want to leap into a European transfer union, with Eurobonds. I understand the worries in Germany. Germans will have to pay, but what if Germany gets into trouble itself? Who saves the saviours, as Federal President Wulff rightly asked. The liberal FDP is right to oppose Eurobonds. Unfortunately, they keep silent in this Parliament, and are absent. Instead, I hear their Group leader demanding Eurobonds. I support the Bavarian CSU opposing a United States of Europe, but unfortunately here the CSU is sitting like a pudding. Apparently these parties have two views: one in Berlin and one in Strasbourg. Unsurprisingly, voters get confused. In Berlin they are right: a European transfer union will not save the eurozone, but break it up. Mr President, may I reply to Mr Rostowski and Mr Barroso? I have the impression that I am attending a funeral in waiting. The only thing I do not know is: whose funeral?"@en1
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