Local view for "http://purl.org/linkedpolitics/eu/plenary/2000-10-25-Speech-3-204"
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"en.20001025.8.3-204"2
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"Mr President, I warmly welcome this report and congratulate the rapporteur on it. There is only one area of serious concern, and that is where the rapporteur extends the principle of conditionality to the area of debt relief. In almost every other area I would support conditionality. I strongly believe that we have a responsibility to use the tools available to us to promote good governance, democracy and the rule of law in our international relations. But while these should indeed guide our aid policies, there is an important distinction to be made when it comes to debt relief. That is because history demonstrates that responsibility for the debt lies with the lenders as well as the borrowers. Moreover, since the original loans were made the debt stock has continued to grow way beyond the original loans. Many countries are repaying their debts several times over. Some countries still spend more on debt repayment than on health and education combined, and yet the people suffering from this diversion of resources are certainly not those who had any benefit from the original loans that were given.
There is a valid argument that says, what is the point of cancelling debt if undemocratic governments simply misuse the funds for their own ends? That remains a possibility. But there is perhaps a stronger possibility that once populations know that debt has been cancelled, they can exert more pressure themselves on their governments to achieve much needed social spending.
Mr Van Hecke's report says that applying conditionality requires consistency and courage. I agree. But in the context of debt relief it also requires justice and a recognition that in many cases, the original debt has already been repaid many times over."@en1
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