Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-27-Speech-4-082-000"

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	"fr"^^xsd:language2
lpv:document identification number	"en.20111027.6.4-082-000"2
lpv:hasSubsequent	lp_eu:2011-10-27-Speech-4-083-0002
lpv:speaker	lp:Derk Jan Eppink2
lpv:spokenAs	unknown; Lijst Dedecker (2009-07-14--2014-06-30)3 substitute; BUDG (2010-09-22--2012-01-18)3 substitute; Delegation to the Parliamentary Assembly of the Union for the Mediterranean (2009-09-16--2014-06-30)3 vice-chair; PECH (2011-07-06--2011-12-12)3 member; ECON (2009-07-16--2012-01-18)3 substitute; CONT (2009-07-21--2012-01-18)3 substitute; Delegation for relations with the Mashreq countries (2009-09-16--2014-06-30)3 member; Delegation for relations with the United States (2009-09-16--2014-06-30)3
lpv:translated text	"Mr President, Charles Dickens once described credit as a system by which people who have no money borrow from other people who have no money but pretend they have. The Summit has transformed the European Union into a debt union where debt is pumped around so we can all pretend we have money but in reality we do not. We only bought time – and why? The root of the problem is still there. Greece cannot recover in the eurozone. Its debt has been cut but its economy remains sinking because the euro is too expensive for them. Greece will default and have to leave the eurozone to devalue, but it stays in and as a consequence the rest of the package will be undermined. The rescue fund is inflated to insure bonds from weaker Member States – but who wants to buy a bond which is insured up to 20% while you risk a haircut of 50%? If I were the investor I would stay away. In May last year we stood here; the newly created rescue fund was shock and awe. It was not to be, and now we have constructed a Ponzi scheme, a debt bubble doomed to burst. Your summits, Mr Van Rompuy, have become a Shakespearian drama of which the next episode is just a matter of time. I wish you personally – and I see you are yawning a lot – a good recovery from a sleepless night in Brussels, but many may fall."@en1
lpv:unclassifiedMetadata	"Derk Jan Eppink (ECR ). -"1
lpv:videoURI	<go to Events_and_structure europarl>2

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