Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-27-Speech-4-087-000"

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	"es"^^xsd:language2
lpv:document identification number	"en.20111027.6.4-087-000"2
lpv:hasSubsequent	lp_eu:2011-10-27-Speech-4-088-0002
lpv:speaker	lp:José Manuel García-margallo Y Marfil2
lpv:spokenAs	substitute; Delegation to the ACP-EU Joint Parliamentary Assembly (2009-09-16--2011-12-20)3 vice-chair; ECON (2009-07-16--2011-12-20)3 member; Delegation to the Euro-Latin American Parliamentary Assembly (2009-09-16--2011-12-20)3 chair; Delegation for relations with the countries of the Andean Community (2009-09-16--2011-12-20)3 unknown; Partido Popular (2009-07-14--2011-12-20)3 member; Conference of Delegation Chairs (2009-09-16--2011-12-20)3 substitute; IMCO (2009-07-16--2011-12-20)3 member_of_the_bureau; EPP (2009-09-16--2011-12-20)3
lpv:translated text	"Mr President, the fact that there was this morning is good news, albeit good news which I would like to clarify. The restructuring of the Greek debt is also good news, but we would do well to admit that we were wrong, because, under the initial conditions, Greece would never have been able to pay. If we had acted sooner, the Greek people would have suffered less and the cost of the bailout would have been lower. Recapitalisation of the banks: I need to look at it in detail, but I do not really understand why they have changed the criteria for evaluating sovereign debt, but have made no alteration to the evaluation of toxic assets, and I do not understand why they have set a ‘one size fits all’ rule for the limit on capital, thus establishing similar recapitalisation limits for financial institutions which, in fact, are not similar. The Spanish Government will have to explain the transfers that it has carried out, but that will be done at home. On the other hand, the Commission does have to explain to us here why we are facing a banking crisis without it having submitted the proposal for a directive on crisis resolution mechanisms, as it promised to do when we spoke about financial supervision. A new storm, and still the lifeboats are not ready. Lastly, it is good news that they are boosting the firepower of the bailout fund. It is just a shame that we have to look externally because we are incapable of sorting out our own problems internally, and we will only do so if we have a comprehensive plan that simultaneously addresses macro-economic discipline, debt sustainability and, above all, growth. It is time that the Commission came up with a universal plan and for us to get moving. If we have to amend the Treaties, well, let us do it, but we need to do it in stages, starting now."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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