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25 October 2011

EP: Preparing the Eurozone Summit


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The main spokespersons for EP's political groups held a debate to discuss the eurozone summit. MEPs broadly criticised the "summit" management, arguing that the past year had already shown that this was not the way to handle the crisis.


Jerzy Buzek (EP President): "This crisis gives us all an opportunity to act. But we must watch out for fragmentation between those in the eurozone and those who are not".

Corien Wortmann Kool (EPP, NL): "The cause of the debt crisis is down to some Member States. But we are all suffering the consequences and therefore we must deliver a common solution. It is also important to guarantee the ECB's independence."

Martin Schulz (S&D, DE): "The biggest problem is that rules are being announced but then not implemented. We need to change this, so as to restore the trust that politicians need so badly."

Guy Verhofsadt (ALDE, BE): "Will tomorrow's summit really deliver the bazooka? I am not sure if the model of using the EFSF (bailout fund) as an insurer of the first 20 per cent of debt will work. What we need is eurobonds."

Jan Zahradil (ECR, CZ): "At best tomorrow will buy us some more time, maybe two or three years. Tomorrow we will know if Europe still has statesmen with vision or only politicians."

Rebecca Harms (Greens, DE): "We cannot handle the eurozone with crisis summits. We need a treaty change, because the way we have been handling Greece is exactly the way we should not have handled it."

Lothar Bisky (GUE/NGL, DE): "The proposed leverage of the EFSF is technical trickery. Like credit default swaps, it can end up being a weapon of mass destruction."

Francesco Speroni (EFD, IT): "The decisions being taken by the EU in this crisis move it further and further away from its citizens. We cannot keep transferring power to the EU."

Press release



© European Parliament


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