Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-27-Speech-4-104-008"
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"en.20111027.6.4-104-008"2
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"If we are to believe some of the comments, the Heads of State or Government have tonight definitively saved the euro. Tonight, Europe has indeed taken a small step forwards, but the agreed measures will only be able to provide some short-term comfort. I thus do not share the euphoria that some people are feeling at the moment. Take the European Financial Stability Facility (EFSF), for example. The expansion of the EFSF is needlessly complicated and indeed inefficient. The responsibility for buying up government bonds has been given to the EFSF, but without the Facility being given adequate resources to do so. EUR 1 000 billion really will not be enough to build a protective wall for Italy and Spain. The solution that the Heads of State or Government hammered out in the European Council consists merely of financial high-tech and not of measures that have an impact on the real economy and the social fabric of Europe. The Council is completely on the side of the financial markets rather than that of the citizens. We have not learned anything about fair pay, job creation or investment in the economy. A tottering economy will never recover by availing itself of financial chicanery."@en1
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