mr president three weeks ago the global financial crisis that had threatened america's banking system with meltdown began to take its toll on this side of the atlantic
for many of my constituents economic disaster had been theoretical but since then it has become a hard reality rather than a distant threat as jobs are lost house prices plunge and social services are being cut
i welcome the swift action by the commission and the member states in securing deposits and in shoring up the capital of banks because it does not take long for a global crisis to become a domestic one
