The European Parliament acknowledges the failure of the way the euro crisis


Failure of the European Parliament approved the way the crisis of the euro. He criticized the German Martin Schulz, President of the European Parliament, the crisis management mechanisms. Schultz described the euro as crisis management is not sufficient as it is successful so far. He added that the last two years have seen a lot of discussions to reach a solution, but without result.

National reservations

Schulz said that the problem faced by European leaders is internally in the search for a majority support them, and externally in the search for ways to maintain the stability of the euro. Schultz said to generate the impression in the past two years in Europe that the perception of internal affairs is more important than the perception of the European Community, stressing that the growing national reservations was the reason behind the failure of the European leaders to deal in euro crisis. He believed that Schultz is not right call on every country of the euro itself to solving problems that, if the Greek banking system collapsed, this will also affect the German banks.

Application of the rules

In the context Finland said that the euro area in need of a consortium with the application of stricter rules and penalties against states in excessive spending before increasing the size of the funds to save the bloc. Said Finnish Foreign Minister Alexander Stubb: We are in need of the Federation of Mali, then we will start to talk about the various mechanisms of the other crisis. The IMF and Italy called for measures to increase protection of the euro area. But Germany, as the largest economy in the single currency bloc will have to bear the heavy financial burden, rather than pay the direction of the conclusion of the Charter of the financial agreement is to achieve the discipline of the budget.

Stubb supports hardline German position on the crisis in the euro zone debt and rejects suggestions a narrow horizon. He said I am very sure that Germany is making enough effort and you have countries such as Finland, the Netherlands and Germany go intertwined hands to a large extent in this currency.

Germany defends

He defended the German Foreign Minister Guido Westerwelle’s stance on the strict debt crisis the euro area. Westerwelle said: We Germans do not expect anyone in Europe more than we ask of our citizens and we can not explain to taxpayers in Germany that they need to do other things they want to do, while at the same time ask them money.

At a time when a claim of Germany to increase their contributions to the Save the euro area, the minister said his country was “exemplary” in solidarity with the weaker euro partners through its commitment to provide more than 200 billion euros, 292 billion dollars in rescue funds list. He added: It is not reasonable to give the money to Greece before finding out whether the reforms that have been approved will be implemented effectively in Athens.