The feasibility of introducing Stability Bonds.

Type: News   Reference: 88809   Duration: 00:03:33  Lieu: Brussels, Belgium - European Parliament
End production: 29/11/2012   First transmission: 29/11/2012
The French liberal MEP Sylvie GOULARD presented today in the ECON committee an initiative report about the feasibility of introducing stability bonds.Since the Euro is an international currency, there should be a liquidities market sooner or later in the eurozone, according to her. One of the possible paths consists in floating this kind bonds to finance the European budget and some common policies. The report was adopted and has now to be debated later on in plenary.

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TIME DESCRIPTION DURATION
00:00:00 TITLE 00:00:05
00:00:05 Exterior shot 00:00:05
00:00:10 ECON Committee voting on the GOULARD report (8 shots) 00:00:53
00:01:03 SOUNDBITE Sylvie GOULARD, ALDE, France (in French): It is an initative report which explores the different possible paths and their combination in the long term. A path is possible towards a certain mutualisation of the debt but all those who do not see that garantees are to be given are wrong. We say that it is feasible if public finances are put in order and if some steps are crossed, demanding democracy. That is what has to be said to the general public. It can be done under certain conditions. We should confront those who say all problems will be solved, it is false, and those who say 'never', without considering the international dimension of the euro. We have an international currency. We should have liquidities market sooner or later. Secondly, a path that we explore consists in floating this kind bonds to finance the European budget. To have one day our T bills as in the USA. In the USA, treasure bonds are not a bit of the Nebraska debt, plus a bit of the Vermont one, plus a bit of the California one. Bonds are floated together in order to finance common policies. For me, it is the top priority . 00:01:13
00:02:16 SOUNDBITE Sylvie GOULARD, ALDE, France (in French) The vote was difficult and tight, it is a sensitive issue which sometime raise disproportionate emotions. This report is about proposals, not about introducing a law to create eurobonds. Democracy should prevail. We have had a clear majority and now we will go to the plenary. We will see there if some groups have amendments to introduce. The EPP abstained. I hope to bring them back with a little polish of the text. 00:00:31
00:02:47 SOUNDBITE Sylvie GOULARD, ALDE, France (in French): Next step in plenary, in December, if not in January because the agenda is quite full; We also voted this moring for the banking union. So what does it mean? That means that we are going to try to have a better control on banks, we are going to give the responsibility of banks control to the European Central Bank, with the possibility for countries outside the eurozone to take part, around the eurozone, to this much tighter control over banks. This is great news and an important file on which we will have to find agreement with the finance ministers. 00:00:37
00:03:24 In the ECON committee we have been fully busy for the last 3 years. And now, indeed, the end of this year is definitely busy. We are going to crawl under the Christmas tree. 00:00:09
00:03:33 END 00:00:00
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