Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-07-04-Speech-3-405-500"
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"en.20120704.25.3-405-500"2
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"I am opposed to the latest ideas for combating the crisis in the euro area. Their common theme is acceleration of the tempo of integration, whether political, in terms of German federalist ideas, or economic, in terms of Eurobonds, a banking union and so on. What is at the heart of these concepts is not a realistic assessment of the causes and course of the crisis, but doctrinaire enthusiasm for European integration. The anti-crisis measures adopted so far have only postponed what is inevitable, namely the collapse of the Euro area. Proof of this can be seen in the situation in Greece. Anti-crisis measures have resulted in a huge increase in Greek indebtedness and an economic recession. The enormous amounts weighing on the Greek balance sheet can be found in large part in the private banks that ran a disastrous credit policy. Doctrinaire proposals to deepen integration will, in effect, only accelerate the culmination of the crisis and will bring about an uncontrolled catastrophe in the euro area, which will threaten the very basis of European integration. Once again we call on the Commission and the Council to prepare a realistic anti-crisis strategy."@en1
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