Local view for "http://purl.org/linkedpolitics/eu/plenary/2002-04-25-Speech-4-049"

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"en.20020425.3.4-049"2
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"Madam President, I welcome the Commission’s decision to cancel the debts linked to special loans but, for the situation in the poor countries to improve, I am afraid that it is not enough for the international financial institutions to adopt initiatives to reduce the debt to what is considered a sustainable level. They must have the courage genuinely to cancel the debt completely in order to release resources and make economic and social growth possible in those countries, and debt cancellation must on no account be taken as an excuse to reduce development aid. On the contrary, the principle, established by the United Nations and confirmed by the Brussels European Council last November, of increasing the funds made available to support developing countries to 0.7% of GDP must be converted into a practical commitment, and Europe must proceed in the same way and with the same determination as when it respected the Maastricht parameters and introduced the single currency. We must establish a precise timetable, stages and monitoring systems to ensure that all the Member States of the European Union respect this commitment, and, alongside this initiative, we must introduce an embargo on the sale of all forms of arms, including light weapons. This is clear from the Monterrey Conference too. We need new ways of proceeding: we need to accord the role of the UN due importance and it is right and necessary to extend the G8 to Africa and Latin America, for it is unthinkable that representatives of the countries involved, of the least wealthy countries in the world, should not have a say in decisions affecting them."@en1

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