Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-12-15-Speech-2-296"

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"Mr President, ladies and gentlemen, as you rightly pointed out, Commissioner Almunia, the consequences of this serious financial and economic crisis have been felt in countries worldwide and naturally in those in Europe. In the EU, it is the weakest countries, the ones we are discussing now, that have been hit the hardest. These are countries which joined the Union only recently and which are outside the euro area. It is therefore important to remember them and identify the most effective actions so that they can be part of Europe as a whole and subsequently participate in life in Europe on an equal footing with others. There accordingly need to be monetary policy interventions, starting with those of the European Central Bank, since unless we help increase their GDP and invest in their production systems, they will not be able to redress the imbalances that are currently weighing them down, satisfy the Maastricht criteria and join the euro area. It is also important, as you mentioned, for there to be other actions such as easier access to the resources provided by the European funds and EIB financing. I believe, however, that we should never forget that these actions must be carried out within a framework of simultaneous actions for other weak countries in Europe too. It is not just a question of the countries that we are discussing today, as we are all unfortunately aware, and for all these reasons, we can no longer delay the creation of a European financing system capable of supporting investment with a comprehensive vision for Europe. I am referring to the establishment of a fund financed by Eurobonds, which I believe to be the only practical solution available to Member States and the European Union. The time has now come at this stage to show political courage and foresight with regard to the desire to overcome the crisis and create the conditions for the competitive development of Europe, a development that would ensure the well-being of all Europeans."@en1
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