Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-01-18-Speech-3-161-750"
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"en.20120118.19.3-161-750"2
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"The agreement on a Fiscal Stability Union will give rise to parallel structures, which causes us concern on account of the problems that this could create, such as insufficient democratic control, legal uncertainty and a proliferation of supranational structures. Quick decisions taken over people’s heads without establishing a basis for them or debating them in Parliament or with the people will not relieve the crisis. Instead they will increase the gap between the people and their politicians. However, despite the fact that we agree with some of the criticism of the international agreement put forward in the resolution, we cannot support the resolution as a whole, as we cannot support the solutions that are proposed, such as closer economic convergence, stability bonds and a fiscal union. The crisis is bigger than the euro. It is a crisis affecting the whole of the economic system on which the EU is based, and these proposals will not solve the fundamental problems with this system. At best they can simply defer the problems to sometime in the future. Growth-promoting measures based on borrowed money will result in a constant spiral of increased borrowing, increased interest payments and thus an even greater requirement for growth in order to pay the interest and create jobs. This will inevitably lead to recurring crises and collapses, with the collapses having serious social consequences and the periods of economic growth causing increased consumption of resources. We are therefore abstaining from the vote."@en1
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