Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-06-13-Speech-3-277-750"

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"en.20120613.24.3-277-750"2
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"I voted in favour of this document because excessive national debt can have dramatic consequences, both within the countries concerned and for the other Member States of the European Union. What is at risk is the euro area’s reputation, rather than its existence. The Commission’s proposal complements the package on European economic governance (the so-called ‘six-pack’) adopted by Parliament and the Council in 2011. The broad thrust of the proposed regulation is that a Member State whose currency is the euro should be subject to enhanced surveillance when it is experiencing, or is at risk of experiencing, severe financial disturbance. This should ensure its swift return to a normal situation and protect the other euro area Member States against possible negative spillover effects."@en1

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