Local view for "http://purl.org/linkedpolitics/eu/plenary/2004-10-26-Speech-2-132"
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"en.20041026.9.2-132"2
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".
The creation of the euro was identified in the mind of the workers with a wave of rises in the prices of basic consumer goods, with a harsh austerity policy and with rising unemployment and poverty for workers and benefits for employers.
The European Central Bank pioneered the pressure to squeeze wages, to reduce social spending and to change the insurance system for the benefit of private capital.
The European Central Bank's exclusive focus on the objective of price stability not only failed as regards basic consumer goods, it also contributed towards the emergence of worse working and living conditions for workers, more difficult access for small and medium-sized enterprises to the money market and the redistribution of wealth for the benefit of big business.
The single currency policy has proven to serve the united interests of big business and to exacerbate the significant differences which exist between national and local economies, putting the burden on the shoulders of the working and grass-roots classes.
We are and we always have been opposed to EMU because we support the workers' interests. Today, the 'vision' of the euro has turned into the nightmare of the grass-roots family, which is why we are voting against the annual report of the European Central Bank, which has helped to increase unemployment and the social problems which blight the lives of grass-roots families."@en1
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