Local view for "http://purl.org/linkedpolitics/eu/plenary/1999-10-27-Speech-3-162"
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"en.19991027.5.3-162"2
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"Mr President, Commissioner, by this stage of the debate many things have been said. This allows us to take up some of the ideas again by way of a conclusion.
This resolution on restructuring in industry has arisen today because one company, Michelin, decided to make 7,500 people redundant. Of course the situation is tragic, but it is interesting to note today that we are able to talk about restructuring in industry not from a purely economic point of view, but raising the human issues that it involves. I think that it is quite right to link this resolution to Michelin’s situation. To axe 7,500 jobs today, when neither a company’s financial or industrial output allow us to attribute these redundancies to some kind of crisis, is quite unacceptable from the legal point of view alone.
From the human point of view, this situation is not only unacceptable; it is indecent and immoral. The fact that a simple PR exercise allows a company’s share value to rise by 12% whilst no extra value has been created, no extra tyre has been manufactured or sold, giving the impression that huge sums of money could simply appear spontaneously as a result of the financial markets alone, shows utter contempt for human labour. While shareholders are selling their stock and making a gain, men and women are finding out that they will be the only ones to suffer from the situation. This is the heavy price that European employees must pay so that a few investors can maximise their return.
In the measures that have been proposed, Commissioner, you talked about social costs and the way we should take them into account in the long term. It is obviously essential, as a matter of urgency, that this measure is complemented by strengthening the directives on collective redundancies and European Company statutes. It is also essential to envisage new forms of social redistribution, financed by the shareholders of prosperous companies that make employees redundant with the sole aim of increasing the price of their shares. Finally we are waiting for an explanation which will enable us to find out if we will be able to vote on this compromise resolution, omitting the word Michelin. In any case, this debate has clearly shown the political division in this House which does not disappear even in supposedly “compromise” resolutions."@en1
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