Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-07-03-Speech-2-100-000"
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"en.20120703.5.2-100-000"2
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"Mr President, two points from the debate. The EMS is composed of taxpayers’ money. That is true. When states borrow from the EMS to capitalise their banks, their taxpayers shoulder the debt in turn. When the banks can borrow directly from the EMS, the banks owe to the EMS; the moral hazard is far less. Decoupling sovereign debt from the recapitalisation of the banks ends the spiral of excessive debt and increased mistrust from markets.
Secondly, the growth stimulus package is fine, but we are not reinventing the policies on growth. What is the scoreboard of Member States’ compliance on the Europe 2020 strategy? How far have Member States gone in implementing proposed policies on the Single Market? What about the Services Directive, for instance? Why do we create illusions and false dilemmas for public opinion? ‘Stability and Growth’ is the name of the pact that has existed for years: these are the two faces of the same coin. Let us stop sloganeering and get to work."@en1
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