Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-12-01-Speech-4-284-500"
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"en.20111201.35.4-284-500"2
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"In favour. The EP: expresses concern at the effect of interest rate increases on economic growth in the euro area; adds that this could hinder the already slow recovery in the euro area, particularly in its weakest economies; stresses that before the financial crisis, private debt, as well as credit bubbles and, in some cases, public debt, increased in an unsustainable way, and that risks were created through private debt bubbles; notes, further, that the increase in government debt was the result of the need to save the private sector, in particular, the financial sector; takes the view that, in addition to the HIPC, asset price trends and credit growth in the EU and in Member States are crucial indicators for the effective monitoring of financial stability within the EMU and, more broadly, the EU; emphasises that the repurchasing of bonds on secondary markets is justified by the aim of restoring a monetary policy which functions effectively during this period of exceptional malfunctioning of certain sectors of the market; notes that these repurchasing programmes are complemented by programmes neutralising liquidity."@en1
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