Local view for "http://purl.org/linkedpolitics/eu/plenary/2004-02-12-Speech-4-072"
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"en.20040212.3.4-072"2
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".
The Parmalat company has been presented to us as an example of the success of liberal globalisation.
Parmalat, once a small family pasteurised milk company, was developed partly thanks to European Union subsidies. Since 1974, it had multiplied its subsidiaries and created shell companies in tax havens. The system lasted until 11 November 2003, when the auditors expressed doubts about a EUR 500 million investment in the Cayman Islands.
Parmalat – like Enron, Tyco, World Com or Ahold – is nothing but a prototype for this rogue capitalism. For 30 years, Parmalat’s bosses have received public subsidies, disguised their accounts and announced fictitious profits. These practices have led to the elimination of thousands of jobs. However, the resolution proposed does not attack these Mafia practices and confines itself too much to observations. It is for these reasons that we have abstained.
First of all, the EU should do everything possible to ensure that all the people responsible are extradited and tried quickly. Then, the EU must stop giving public subsidies to this type of company. Furthermore, employees and their organisations must have the means for effective control of accounts. Finally, all tax havens in the EU (San Marino, Monaco, Luxembourg, and others) must be eliminated."@en1
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