Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-06-13-Speech-3-438-000"
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"en.20120613.27.3-438-000"2
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"Mr President, instead of finally addressing the real problems of the euro area, the European Union – as we are all aware – has stuck its head in the sand and is trying to stay afloat with marketing strategies. This European Semester has, in my opinion, long been overtaken by reality, though it should ensure greater financial transparency.
We have all had to learn the hard way, in the wake of the euro crisis, that economic growth and success cannot be imposed by decree. That the EU is unable to ensure compliance with agreed financial criteria has already been demonstrated by the utterly ineffective Stability Pact.
As we now know, monetary union is a folly, which was doomed to failure from the outset because of the huge differences in the economic conditions of its members. Instead of moving towards greater centralisation, which, it is now clear, is the general intention, we must revert to a union of States with equal rights, which can, under certain circumstances, implement their own economic and monetary policy. Plainly, a hard currency zone would be viable. We all know that."@en1
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