MEPs want swift action on saving the euro

MEPs want swift action on saving the euro
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The European Parliament has urged EU leaders to come up with concrete solutions to the euro zone debt crisis.

MEPs say this weekend’s summit in Brussels must find a way to solve the single currency’s fiscal woes.

Martin Schulz, the leader of the Socialist and Democrats, said he hoped EU leaders would stop putting off making big decisions.

“I hope this summit will be able to answer the questions of restructuring Greek debt and will take the necessary measures to implement a new bailout fund for the bloc’s indebted economies,” he said.

Joseph Daul, the head of the centre-right European People’s Party, said action was need to address investor concern over a possible default.

“This summit must make decisions to calm the markets because we are attacked from the outside as we know. We have less debt than the United States but we are not united enough to manage this euro crisis,” Daul told euronews.

Liberal leader Guy Verhofstadt believes economic governance is the only way to save the euro.

“We have to establish economic and fiscal union in Europe. An economic government for Europe. Without these things, a single currency just won’t work,” the former Belgian prime minister said.

The Greens, who hold 35 seats in the parliament, are more pessimistic, as their leader Marisa Matias explains.

“I think the expectations are low because the recipes which are being practiced are always the same but i think there is a new subject in this summit which has to do with the recapitalisation of the banks.”

This Sunday’s summit is being billed by some EU leaders as the last chance to save the single currency.

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