Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-27-Speech-4-083-000"

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"en.20111027.6.4-083-000"2
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"Mr President, President of the European Commission, President of the European Council, I would like to welcome you as you are a great European democrat and European democracy finds its expression in this House. This House is your home. I would like to make two or three comments. Firstly, we are not in a crisis of the euro. The euro is not the problem. The euro is the solution. We are not in a crisis of Europe. Europe is not the problem, it is the solution. The problem is the indebtedness of Member States. You have protected the financial stability of the Member States at the level of the euro area and the European Union, and I thank you for that. We should ask ourselves the following question: what would have happened had we not had the euro? The franc, the escudo, the peseta would all have been devalued by between 10 and 35%, the Greek drachma by 40%, and the Deutschmark would have been re-valued by 20%. Let us reflect on this question and recognise that we are extremely lucky to have the euro, which is a solid currency, with vast foreign exchange reserves, which are respected on a global scale. The truth is that we are making progress towards greater European Union and, as the European Council of 23 October stated, towards a growth strategy with the single market. We shall enter the G20 summit with our heads held high. As Jean-Pierre Jouyet has written, too bad indeed if the financial markets end up imposing political Europe in an example of major historical irony. It is very good news that we are making progress towards this political Europe that we all want."@en1
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