Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-07-04-Speech-3-401-187"
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"en.20120704.25.3-401-187"2
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"This 25th Summit has proved to be yet another failure, and absolutely nothing has changed for Italy. Now we can understand why Prime Minister Monti has said he does not want to ask for the ‘anti-spread’ mechanism for our country: simply because, as things stand, without a banking licence, the European Stability Mechanism (ESM) is completely ineffective. There are also still many controversial points, from banking supervision being assigned to the European Central Bank (ECB), for which the Treaties would be amended, to the conditions in which several countries can block use of the ESM, the request for intervention of which subjects national governments to invasive inspection by Europe, depending on an assessment by the European Commission and the ECB. Moreover, if the agreement on the ‘anti-spread’ mechanism, as the Council and Commission have reiterated in this House, really was unanimous, I wonder why the Netherlands and Finland have backtracked: we will now have to carefully assess the consequences of this choice. The leaders of the European institutions do not know how to answer these questions, despite this House clamouring for clarifications. On the contrary, they see fit to leave the details of what has been established up to now until future bilateral meetings and Eurogroups, when it will probably be too late."@en1
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