euronews interview – Michel Barnier: Banks should pay for banks

www.euronews.com For a little over two years, Michel Barnier has been the European Commissioner for the Internal Market and Services. Part of that brief is to calm the markets and complete the single European market. Those are two challenges which the current debt crisis has made even more urgent. Euronews talked to him about these challenges. The Commissioner who has held several ministerial jobs in France also gave his opinion on the difficult balance between austerity and growth. Audrey Tilve, euronews: “Michel Barnier, welcome to Euronews. At the European Commission, you are on the frontline in the fight against the crisis and its causes, I want to return to that. But first, I would like to discuss with you Europeans’ frustration at what is seen as the dogma of austerity. We saw this recently in the Netherlands where the government fell. Do you not think it is time to think again on these austerity measures and instead give priority to growth?” Michel Barnier: “The austerity measures have been put in place in several countries to reduce their deficits, to lessen the countries debts. It has been made more difficult because for 20 or 30 years some countries have been badly managed, writing blank cheques secured against the future generations and spending more than they earned. ‘That’s why it is such a difficult situation today and so action has to be taken quickly because if these countries, not just Greece, do not make the effort to control, to better manage their …
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