Pascal Canfin (Verts/ALE). – (FR) Mr President, there are two democratic institutions in Europe: the Council, which represents the Heads of State or Government, who have been elected, and the European Parliament, which is elected by universal suffrage.

For two years, the Council has had sole responsibility for resolving the crisis, and for two years, it has failed. It has failed every quarter by holding another last-chance summit. I will see you in another three months at the next last-chance summit, because last week’s summit completely failed to resolve the issues that were on the table.

When you listen to the rating agencies – the infamous financial markets that you are keen to reassure – what do they say? They do not say, ‘more austerity, more discipline’. They say, ‘a comprehensive package including budgetary discipline’. No one is disputing the fact that we need to adopt this approach, but it is just one aspect of the package, not the only one. We are well aware that, today, with this package, with the outcome of this summit, you have added to the citizens’ concerns without even reassuring the markets. In other words, it is a complete waste of time. I shall see you again in three months’ time!

However, there is a second European institution that is democratic, namely the European Parliament. As Mr Schulz, Mr Daul and Ms Harms said, it is our responsibility to recognise today that we need to take the lead in establishing an alternative crisis plan, one that offers a different approach from that of the Council, which is all about failure.

It is our responsibility not just to vote on a resolution, but to use all the powers bestowed on us by the Treaties to their full extent, to shoulder our responsibilities and to be capable, between us, of reaching compromises. If we prove incapable of reaching compromises between us, then, at that point, we will no longer have the legitimacy to criticise others who are incapable of reaching them. However, we have three months to get there. We have a responsibility to do so; the people of Europe are watching us.