Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-06-12-Speech-2-043-000"

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"Mr President, ladies and gentlemen, the idea behind the ‘two-pack’ is to provide further rights of intervention in respect of crisis countries in the euro area. The idea is to give teeth to the European Semester, which was created as a framework to provide better coordination of financial and economic policy. At the Commission’s behest, the Member States are to be forced to accept financial assistance. Through the ‘six-pack’, extensive sanction options that could be imposed on euro area countries with financial problems have already been created. The European Semester has already been perceived by the citizens more as a rollback of democracy than as a useful tool to coordinate economic policy. At the same time, the German Government is openly threatening Greek citizens with being kicked out of the euro area should they make the wrong choice in the elections on Sunday. Why do we not desist from such humiliating and undemocratic chest-beating? In a situation where the euro crisis has dramatically worsened once again – I am thinking of Spain, and of Cyprus – it in no way helps us to pillory Member States that are in crisis. We should at last produce some solutions! The rapporteurs for the ‘two-pack’ have developed some very sensible approaches in this regard. Ms Ferreira made reference to the debt redemption fund, which would be a worthwhile and sensible measure in order to tackle the debts. Mr Gauzès’s proposal for an organised process for national bankruptcy would perhaps also be an option. It is key, however, that Europe should work together and show solidarity in order to set the eurozone back on track for growth. The strong countries in Europe must desist from their self-satisfied finger pointing at their partner countries. They need to begin doing their homework, investing in growth and taking on their responsibilities. A Merkel-style policy of cuts on one side only has simply failed as a model to resolve the crisis."@en1
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