Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-12-Speech-3-099-000"

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"en.20111012.14.3-099-000"2
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"The crisis is getting worse. The banking sector is under extreme stress. The six-pack constitutes a sound basis, but it is not sufficient. We need strong European coordination, economic governance based entirely on the Community method. And we need a clear timeframe of measures to restore confidence. This is an all-European crisis, not only a problem of the eurozone. Reform is needed throughout Europe, not only in the eurozone. The central issue of further expansion of solidarity and the EFSF will be conditionality. Conducting real structural reforms should be the principal condition for receiving further financial support. This has to apply for all circumstances, including support to recapitalise banks. Public capital injections require public control of bank management, including strict control of dividend policies, bonuses and salaries. Next to austerity measures, we also need growth and jobs. The EC has a key role here to finally make full use of the potential of the single market. There is absolutely no moral or political justification to further delay the completion of the single market. More than two thirds of the EU economy is vested in the service sector, of which the major part is still not integrated. This is another precondition and lever to regain confidence for the EU."@en1
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