The EU Council is on the wrong track with the crisis in the Euro area
Channel: Ivailo Kalfin
Date: 2011-12-14

Parliamentary speech by Ivailo Kalfin, MEP in Strasbourg in which he argues that the slow pace of combating the problems with the stability in the euro area is due to the lack of political courage and vision of the leaders. There is no time to create new institutions long and unclear procedures and to change the Lisbon Treaty. The right approach is not to restrict but to expand the countries which endeavour to stabilize euro. The IMF has a platform to involve in the effort countries like China, USA, Japan, and Brazil which posses recourses and have interest in stabilizing the euro. The restricted use of Eurobonds, the ESM and the expanded activity of ECB could provide robust recourse needed to fight the euro crisis.