Local view for "http://purl.org/linkedpolitics/eu/plenary/2005-05-10-Speech-2-212"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2005-05-10"^^xsd:date2
dcterms:Is Part Of	lp_eu:Appointment to the ECB Executive Board2
dcterms:Language	"it"^^xsd:language2
lpv:document identification number	"en.20050510.24.2-212"2
lpv:hasSubsequent	lp_eu:2005-05-10-Speech-2-2132
lpv:speaker	lp:Luca Romagnoli2
lpv:spokenAs	member; Delegation for relations with Mercosur (2004-09-15--2007-03-13)3 member; NA (2004-07-20--2007-01-14)3 member; TRAN (2004-07-21--2007-01-14)3 substitute; EMPL (2004-07-27--2007-01-14)3 unknown; Movimento Sociale Fiamma tricolore (2004-07-20--2009-07-13)3
lpv:translated text	"Mr President, ladies and gentlemen, I am taking the floor to explain why I voted against the appointment of Professor Bini Smaghi. Although he is a rigorous scholar recognised for being straightforward and highly competent, he has declared himself in favour of policies that are utterly unacceptable. At the end of the hearing he upheld the need for the ECB not to cut interest rates. He supported ratification of the Constitution, of course, because in fact it facilitates the work of the European Central Bank. For us, the ECB is the mother of all usury: it actually deprives the paper money that it allows to be printed of its exchange value and controls the interest rates applied by the Member States’ banks, thus subjecting consumers to extortionate terms. In addition, he said that he supports the Stability Pact, which limits the freedom of the Member States. Lorenzo Bini Smaghi has publicly stated that the institutions created by the Bretton-Woods Agreements – the International Monetary Fund and the World Bank – hold the stability of the international financial system among their rightful objectives, but he does not agree that, for the sake of such stability, they have contributed to poverty and a widening of the gap between rich and poor. In our view, the International Monetary Fund, the World Bank and the ECB represent the interests of a tiny minority of technocrats and of big transnational finance, which grows rich on financial speculation. These are institutions that have decreed the ruin of whole nations: just think of the case of Yugoslavia, first strangled by extortionate interest rates and then crushed, destroyed and dismembered. We were therefore certainly not voting against the person, who is someone we admire, but against an institution that we cannot accept and in fact positively condemn."@en1

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