Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-03-23-Speech-3-048-750"
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"en.20110323.15.3-048-750"2
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"I voted in favour of a stability mechanism (ESM) for the Member States of the euro area in order to help those of our neighbours that are in difficulty. This mechanism is an embryo of what the Eurobonds could be in future in terms of their ability to finance the Union’s budget and to release the financial markets’ stranglehold on the sovereign debt of Member States. I regret, however, the ESM approval method chosen – a simple consultation of the European Parliament – because the intergovernmental approach has prevailed over the Community approach. This poses a risk to the quality of democratic debate, which is nevertheless necessary in order to implement an effective economic policy. This mechanism remains a partial response which is not sufficient to encourage growth and reduce unemployment."@en1
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