Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-02-14-Speech-2-447-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2012-02-14"^^xsd:date2
dcterms:Is Part Of	lp_eu:Feasibility of introducing stability bonds (debate)2
dcterms:Language	"pt"^^xsd:language2
lpv:document identification number	"en.20120214.21.2-447-000"2
lpv:hasSubsequent	lp_eu:2012-02-14-Speech-2-448-0002
lpv:speaker	lp:Elisa Ferreira2
lpv:spokenAs	substitute; TRAN (2012-01-19--2014-06-30)3 substitute; Delegation for relations with India (2009-09-16--2014-06-30)3 member; Delegation to the ACP-EU Joint Parliamentary Assembly (2009-09-16--2014-06-30)3 unknown; Partido Socialista (2009-07-14--2014-06-30)3 member; ECON (2012-01-19--2014-06-30)3 member; S&D (2009-07-14--2014-06-30)3 substitute; Delegation to the Parliamentary Assembly of the Union for the Mediterranean (2009-09-16--2014-06-30)3
lpv:translated text	"Mr President, Commissioner, between May 2010 and now we have seen how a problem that appeared manageable has spiralled out of control. It is true that combating the crisis caused by the financial markets has further indebted the countries of the euro area and that the weakest have become particularly vulnerable. However, is it possible that countries sharing the same currency are to be left to the mercy of attacks by financiers and those who make money by betting on the likelihood of euro area countries defaulting? The terrible consequences of the inability to respond in the Council and the Commission have produced problems that are today indisputable. The speculative interest rates demanded of individual countries have undermined any strategy for emerging from the crisis. The resulting intensification of the country’s economic problems justify interest rates ballooning further until the country’s economy is killed by credit being totally cut off, with contagion doing the rest. For a long time, this Parliament has been proposing a form of joint management of sovereign debt, subject to tough, but clear, rules. We welcome the fact the Commission has finally produced a Green Paper on the subject, using the name ‘stability bonds’. Today it is clear that, without bonds of this type, properly linked to the European stability mechanism, the so-called ‘crash barriers’, the sovereign debt firewalls, are non-existent; until they exist, the euro is in danger, as is Europe. In the resolution adopted by the majority in Parliament on a new treaty, it was totally clear that it is unacceptable to continue imposing more fiscal stability rules, budgetary discipline and sanctions on euro area countries without taking concrete and urgent steps towards the joint management of sovereign debt. The two processes have to develop in parallel. This is what we expect from the Commission and it is already long overdue."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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