Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-02-15-Speech-3-359-875"
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"en.20120215.18.3-359-875"2
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"The euphemistic term by which Eurobonds are now described – stability bonds – is based on a requirement that we reject: namely, the deepening of economic and fiscal governance, which will mean a significant transfer of sovereignty to the major powers. 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. There will be no break with the process of extortion, colonisation and exploitation under way as part of capitalist integration in the EU within a framework of deepening federalism."@en1
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