Local view for "http://purl.org/linkedpolitics/eu/plenary/2005-01-12-Speech-3-226"

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"en.20050112.11.3-226"2
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"Madam President, there is nothing wrong with cancelling debts, certainly if it involves countries in desperate need, as is at present the case in South East Asia. As various speakers have said, though, one should not generalise. Some countries are governed well, and others badly, and we cannot promise all of them that we will write off their debts and solve their problems overnight. In practical terms, for example, it is unacceptable that Zimbabwe should be treated in the same way as Uganda. Every aspect, every country has to be considered on what is politically speaking the best solution, and debt cancellation is one of the ways of contributing to the country’s development. The resolution is extremely vague. What, for example, are the practical implications for the European budget? I believe that only the European Investment Bank grants loans, and the European budget stands surety for those loans. What will happen if we cancel those loans? How much will this cost? Perhaps the Commission could elaborate on this."@en1

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