Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-12-01-Speech-4-257-500"
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"en.20111201.35.4-257-500"2
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"The global financial crisis and economic downturn have seriously damaged economic growth and financial stability, leading to a substantial deterioration in financial and economic conditions in several Member States. They are experiencing serious difficulties or are threatened with such difficulties, which mainly entail problems with their economic growth and financial stability and a deterioration in their deficit and debt position caused, among other things, by the international economic and financial environment. Despite the fact that important actions to counterbalance the negative effects of the crisis have already been taken, including amendments of the legislative framework, the impact of the financial crisis on the real economy, the labour market and citizens is clear. Pressure on national financial resources is increasing, and the optimal use of funding, in particular from the Structural Funds and the Cohesion Fund, might help to alleviate that pressure. The crisis and the economic downturn which have seriously damaged the financial stability of several Member States necessitate a rapid response, in order to mitigate the effects on the economy as a whole. I believe it is important for Member States to receive financial assistance from the Union or from other euro area Member States in order to address serious difficulties with respect to financial stability."@en1
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