Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-07-04-Speech-3-401-437"
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"en.20120704.25.3-401-437"2
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"I voted in favour of the resolution on the conclusions of the European Council of 28 and 29 June 2012 because I welcome the short- and long-term decisions made with a view to strengthening our economic and monetary union. In particular, I think the short-term actions are positive, which were formulated to ensure greater financial stability to break the vicious circle between banks and sovereign debts. A ‘single supervisory mechanism’ has been laid down which, by means of the European Stability Mechanism and the participation of the European Central Bank, can directly finance the banks. Furthermore, the so-called ‘anti-spread mechanism’ provides for the use of the bailout fund for the most virtuous countries in order to reassure the markets and lower the level of interest rates. In terms of long-term measures, the decisions taken by the Council with regard to growth and jobs are welcome. This involves mobilisation of EUR 120 billion intended for new investments and an increase of EUR 10 billion in the capital of the European Investment Bank. To that end, the forthcoming multiannual financial framework must be consistent with the objectives of growth and jobs. However, there is still much to do from the point of view of completing economic and monetary union."@en1
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