Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-02-15-Speech-3-347-000"
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"en.20120215.18.3-347-000"2
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"The name that the Commission has now given to what were long called ‘Eurobonds’ – stability bonds – demonstrates the requirement inherent to them: the deepening of economic and fiscal governance, in the way advocated and put into practice by the directorate that runs the EU. This has been done by placing unacceptable limits on the sovereignty of countries and peoples in areas vital in enabling them to determine their collective obligations. The strategic objective adopted here is not economic growth, job creation and combating social inequality, but asserting the euro as a global reserve currency, which goes against the interests of the people of the outlying countries. This mechanism does not guarantee an end to speculative attacks and maintains differentiation in the interest rates each country pays for finance.
What is needed is not measures that, years ago, could have served to absorb some of the speculative shock, within the framework of a debate on profound change to European Union economic policy. What is needed presently is to reverse the path taken, and to repeal economic governance, the Euro Plus Pact and the new European Treaty."@en1
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