Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-07-04-Speech-3-172-000"

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"en.20120704.25.3-172-000"2
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"Mr President, there has not been a single bailout package whose consequences have, in principle, justified it. Despite this, the response of the European bureaucrats always ends up being a bigger bailout package. Ladies and gentlemen, a debt crisis cannot be resolved with more debt. The recent bailout package has not solved the Spanish debt crisis but rather aggravated it, adding up to EUR 100 billion more to the country’s liabilities. The harsh truth is that we have witnessed the damaging consequences of a fever for artificially cheap credit. It is a bitter pill to swallow, but we are rectifying the disastrous consequences of that fever and, once we have finished, we will be able to return to growth, following the path of good, common sense."@en1
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