Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-03-13-Speech-2-044-000"

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"Mr President, in the conclusions of the European Council of 1-2 March, towards the end, in the section ‘Any other business’, in paragraph 45, to be exact, a grand total of two whole lines were devoted to the fact that Herman Van Rompuy had been reappointed President of the European Council. My sincere congratulations, Mr Van Rompuy, but this may well be an indication that there is something wrong with the democratic legitimacy of the whole way that the European Union functions. You talked about a turning point and said you had found the banks willing to write off a large proportion of the Greek debt. I fear that you are continuing to give a somewhat rosy picture of the situation, because, fundamentally, nothing has changed. Soon, Greece will again be receiving a new multi-billion euro handout and then, as usual, it will only be a matter of time before it needs more money. This is why we are all going to continue muddling on, with no prospect of anything improving. It is not only in the interests of the euro area, but also in the interests of the Greeks themselves, that Greece exits the euro area in a supported way. That is the only way in which Greece can be helped out of bankruptcy in the long term, because the country is now trapped in a monetary union for which it is simply not competitive enough. Yet another bailout will not do anything to change that situation. Instead of carrying on holding the Greek people hostage over this whole sorry story, the European establishment would do better to admit that it was a mistake to allow Greece into the monetary union in the first place and that that mistake must now be rectified."@en1
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