Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-12-01-Speech-4-048-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-12-01"^^xsd:date2
dcterms:Is Part Of	lp_eu:ECB annual report for 2010 (debate)2
dcterms:Language	"it"^^xsd:language2
lpv:document identification number	"en.20111201.3.4-048-000"2
lpv:hasSubsequent	lp_eu:2011-12-01-Speech-4-049-0002
lpv:speaker	lp:Alfredo Pallone2
lpv:spokenAs	member; Delegation to the Parliamentary Assembly of the Union for the Mediterranean (2009-09-16--2014-06-30)3 member; ECON (2009-07-16--2012-01-18)3 substitute; Delegation for relations with Canada (2009-09-16--2014-06-30)3 member; EPP (2009-11-25--2014-06-30)3 member; Delegation for relations with the Maghreb countries and the Arab Maghreb Union (2009-09-16--2014-06-30)3 substitute; LIBE (2009-07-16--2012-01-18)3 unknown; Il Popolo della Libertà (2009-07-14--2013-12-16)3
lpv:translated text	"Mr President, President Draghi, ladies and gentlemen, on behalf of the Italian delegation in the Group of the European People’s Party (Christian Democrats), may I welcome you to this House in your role as the new President of the European Central Bank. We are laying down rules on budgets and on more rigorous fiscal discipline, but what we need right now are immediate responses, and I have the impression that the debate and the timetable in relation to eurobonds require time, which is something that we do not have. Rather, we need measures to promote growth and to prevent stagnation. The ECB has played an important role in the current crisis by buying government bonds that are subject to speculation and keeping interest rates and inflation low. Perhaps more than any other European institution, it has acted swiftly and effectively, but the crisis has become a crisis of our common currency, of the euro, which does not have the support that a currency should have. The ECB lacks the effectiveness and the authoritativeness of a proper central bank. The idea, floated recently, that the ECB may finance the Member States indirectly, in other words, by going through the International Monetary Fund and so managing to play a leading role in tackling the debt crisis, circumventing the restrictions laid down by statute, is hearsay, and I question whether there is really any truth in it. This is further evidence of the need to move on from the ECB and create a proper European central bank that is not only a guarantee and supervisory body but also a currency issuer. Like the US Federal Reserve, the ECB must become a lender of last resort, a currency guarantor, as happens for the dollar and the pound. This would also contribute towards the creation, Mr President, of the Europe of solidarity and of the Member States that our founding fathers, from Adenauer to Spinelli and De Gasperi, wanted."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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