Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-02-15-Speech-3-355-500"
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"en.20120215.18.3-355-500"2
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"The continuous strains on the euro area bond markets for sovereign debt are worrying, and have been reflected in widening spreads, high volatility, vulnerability and speculative attacks over the last two years. The euro area, as the issuer of the world’s second largest international currency, is jointly responsible for the stability of the international monetary system. It is therefore in the long-term strategic interests of the euro area and its Member States to take maximum advantage of issuing the euro, which has the potential to become a global reserve currency. It is worth noting that the US treasury market and the total euro area sovereign bond market are comparable in size but not in terms of liquidity, diversity and pricing. However, it may be in the interests of the euro area to develop a common, liquid and diversified bond market, and once a stability culture has been credibly established in the euro area, a stability bond market could offer a viable alternative to the US dollar bond market and establish the euro as a ‘safe haven’ currency. That is why I voted in favour."@en1
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