Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-27-Speech-4-063-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-10-27"^^xsd:date2
dcterms:Is Part Of	lp_eu:Conclusions of the European Council meeting (23 October 2011) (debate)2
dcterms:Language	"nl"^^xsd:language2
lpv:document identification number	"en.20111027.6.4-063-000"2
lpv:hasSubsequent	lp_eu:2011-10-27-Speech-4-064-0002
lpv:speaker	lp:Bas Belder2
lpv:spokenAs	chair; Delegation for relations with Israel (2009-09-17--2014-06-30)3 substitute; BUDG (2009-07-16--2012-01-18)3 member; AFET (2009-07-16--2012-01-18)3 chair_of_the_bureau; EFD (2011-05-23--2014-06-30)3 member; Conference of Delegation Chairs (2009-09-17--2014-06-30)3 member; Delegation for relations with Iran (2009-09-16--2012-02-14)3 substitute; Delegation for relations with the United States (2009-09-16--2014-06-30)3 unknown; Staatkundig Gereformeerde Partij (2009-12-07--2014-06-30)3 member; Delegation to the Parliamentary Assembly of the Union for the Mediterranean (2009-09-16--2014-06-30)3
lpv:translated text	"Mr President, this crisis is shaking the very foundations of the eurozone and undermining stability in Europe. A credible and effective response is thus urgently needed. As far as we know at this stage, the main points of the agreement reached have been received fairly positively. Important details still have to be added, however. First of all, market confidence must be restored on the basis of the quality of governance in those Member States that are deeply in debt. Above all, investors must now decide whether this package is convincing. Secondly, the size of the Emergency Fund must be addressed. It is not as large as economists and central bankers would like. The question is, therefore, whether this aspect is future-proof. The third issue is the Greek privatisation programme. It is unclear on what the optimism concerning the extra EUR 15 billion in privatisations is based. The results obtained so far do not give sufficient grounds for such optimism. Fourthly, the level of impact must be examined. One aspect that springs to mind is the value of write-offs by the private sector in respect of Greek state bonds, a crucial factor which the banking sector and the authorities must work on so that this is clear by the end of 2011. There is also great uncertainty concerning the recapitalisation of the banks. The European Banking Authority still has to work a few things out on the basis of new figures for cash requirements from September, and recent estimates in this area have varied widely. A fifth crucial detail relates to economic governance. The question is whether there are adequate guarantees to prevent future problems. In the conclusions of the Council, I see no agreement on stronger enforcement of budgetary rules and a fundamental tackling of imbalances at the level of balances of trade and payments. Were rules aimed at resolving these issues more effectively also on the agenda? It goes without saying that I welcome the rapid introduction of the legislative package strengthening the Stability and Growth Pact and the strengthening of the powers of the Budget Commissioner, but the wording of this final aspect in paragraph 28 of the Council’s conclusions leaves me anything but confident."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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