Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-27-Speech-2-550-000"

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"en.20110927.29.2-550-000"2
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"Would it not be in Greece’s interest to withdraw from the eurozone and restore the drachma, which would inevitably fall in value, boosting its visible and invisible exports and producing an economic expansion? Whilst an effective devaluation would add to the burden of Greece’s debts on paper, this would not add to its real burden because the default would almost certainly be necessary, whether or not Greece withdraws from the eurozone. Is Greece, in fact, being kept in the eurozone, not in the interests of that country, but as an unjust sacrifice of Greece’s interests to salvage the reputation of the single currency? It is certainly not in the interests of Greece. Would you, Mr Juncker, tell us either now or later how much money the European Central Bank has spent buying the bonds of each of these countries – Greece, Ireland, Spain, Portugal and Italy – and, at the most recent valuation, what losses the ECB has incurred on these purchases?"@en1
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