Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-02-14-Speech-2-456-000"

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"en.20120214.21.2-456-000"2
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"Ms Goulard, I will just say, briefly, that that is not a judgment that I have put forward here. I would just point out that the last government bonds issued by Italy before it joined the euro bore an interest rate of 10%. There was no outcry in Italy at the time. Nobody said that other countries should take on the debt. It was natural for Italy to pay high interest rates. Yet now, all of a sudden, because we have had low interest rates for 10 years and got up to our ears in debt, because money was cheap – for investments just as for the public purse – we want to prolong that through Eurobonds. That represents a trap from which we will not escape, and I stand by what I said."@en1
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