Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-12-Speech-3-067-000"
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"en.20111012.14.3-067-000"2
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"Mr President, the interpreter, at least, did not word it as a question, but nevertheless, I am happy to provide an answer. No, the solidarity between the Member States of the European Union and of the euro area makes various demands on us and on our voters. However, we are prepared to meet those demands because we want a stability union for Europe and, within this stability union, solidarity is a two-way street. This means that we are prepared to take on these guarantees.
As far as the question of the banks is concerned, I am unhappy about the developments in the banking sector, just as everyone who takes a close look at it is. It is true that some of the things which were being done before the crisis are still going on now. However, one thing is absolutely clear. Without a functioning banking sector, we cannot develop a strategy for growth in Europe. As a result, the actions that we have just taken – paying the next tranche to Greece and organising a haircut which does not completely cripple the banking sector – are necessary to allow us to emerge from the crisis by means of economic growth."@en1
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