mr president if we did not have the european investment bank we would right now be desperately trying to set it up
i welcome the proposal to greatly increase the amount of loans and also support its role in helping non-eu developing countries
we are however i believe wasting this valuable resource by not drawing on its expertise in the wider financial crisis
we urgently need a european mechanism for financial stability
by setting up a trust fund as proposed by the party of european socialists we would ensure that member states coming under attack from unscrupulous speculators could be supported without direct recourse to taxpayers and could ensure lower spreads
this would demonstrate clearly to the market particularly the unscrupulous speculators that we are not prepared to allow any member state to be brought down and destroyed as is happening at this point in time with greece and is likely to happen to other member states not least my own in ireland
