Local view for "http://purl.org/linkedpolitics/eu/plenary/2001-10-23-Speech-2-135"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2001-10-23"^^xsd:date2
dcterms:Is Part Of	lp_eu:VOTE2
dcterms:Language	"pt"^^xsd:language2
lpv:document identification number	"en.20011023.6.2-135"2
lpv:hasSubsequent	lp_eu:2001-10-23-Speech-2-1362
lpv:speaker	lp:Ilda Figueiredo2
lpv:spokenAs	substitute; Committee on Women's Rights and Equal Opportunities (1999-07-21--2002-01-14)3 member; EMPL (1999-07-21--2002-01-14)3 unknown; Partido Comunista Português (1999-07-20--2004-07-19)3 member; Delegation for relations with the Mashreq countries and the Gulf (1999-09-29--2002-01-14)3 substitute; AGRI (1999-07-21--2002-01-14)3 member; EUL/NGL (1999-07-20--2002-03-05)3
lpv:translated text	". As the report points out, between 1975 and 2000, the world has gone through some 120 monetary crises, which the IMF defines as depreciation of a currency by more than 25% in the course of a year. Regrettably, however, even in the knowledge that every such crisis involves enormous costs for the countries involved, as happened in the Asian crisis in the summer of 1998, the report offers no basic measures that could prevent the emergence of new crises with any degree of effectiveness. Data from the Bank for International Settlements shows an enormous increase in international financial activity, which practically doubled in the 1990s, with trading on stock exchanges appearing increasingly disconnected from the real economy. This, combined with an increase in the speed of circulation in the financial sphere has heightened instability, thereby helping to increase the gap between richer countries and developing countries. Despite the report’s considerations and criticisms, specifically regarding the lack of democratic accountability of the IMF and its use by the USA and the G7, does not offer much by way of an alternative. On the contrary, it suggests from the outset that it is unrealistic to expect the creation, in the foreseeable future, of a United Nations organisation that would exercise full universal powers of regulation and supervision, when this is precisely the path that should be promoted and pursued in order to achieve fair and democratic international relations that provide solidarity and are concerned about development and the fight against poverty. Although it is to be welcomed that the rapporteur acknowledges that starting from scratch on growth and on combating poverty will require cancelling the debts of the poorest countries, it is disappointing that he does not put forward any other practical proposals, such as a Tobin-type tax or abolishing tax havens and that the majority in this House has rejected every move in that direction."@en1

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