Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-06-12-Speech-2-170-000"

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"Mr President, with the session drawing to its close, may I, on behalf of all the Members, thank you and your staff for your patience in presiding over it. We have been working our leisurely way through this voting list oblivious, it seems, to what is happening on our doorsteps. Hundreds of millions of euro are being withdrawn from banks around the Mediterranean. It is now a toss up as to whether Cyprus or Italy will be the next in line for a bailout. We have been told up until now by all the euro optimists that Spain was different from all the other countries because it did not have the same debt level. Well, that is no longer true. It has just increased its liabilities by one hundred billion euro. The money is coming from countries which are themselves running deficits. We are giving ourselves a transfusion from one arm to the other."@en1
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