Local view for "http://purl.org/linkedpolitics/eu/plenary/2014-09-15-Speech-1-172-000"

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"en.20140915.21.1-172-000"2
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"Mr President, in June 2012 the EU Council agreed to break the link between banks and sovereigns. The Summit statement spoke of the Euro Group examining the situation of the Irish financial sector in the context of using the ESM to retrospectively recapitalise Irish banks. Subsequently, there was some roll-back on this agreement, but just one month later a joint statement from Enda Kenny and Angela Merkel said that Ireland was a special case. Jean-Claude Juncker said earlier this year: ‘I think there must be some degree of retroactivity’ in the ESM, ‘otherwise it will lose most of its sense’. Yet to this day we have made no progress on this issue and, in case you did not know, Eurostat confirms that Ireland, which has less than 1% of the population of the EU, carried 43% of the net cost of the banking crisis. We now have banking union therefore the EU cannot renege on its promises. The ESM must be used to retrospectively recapitalise Irish banks – otherwise we will have been betrayed by our partners."@en1
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