Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-07-04-Speech-2-165"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2006-07-04"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"pt"^^xsd:language2
lpv:document identification number	"en.20060704.25.2-165"2
lpv:hasSubsequent	lp_eu:2006-07-04-Speech-2-1662
lpv:speaker	lp:Ilda Figueiredo2
lpv:spokenAs	substitute; Delegation to the Euro-Mediterranean Parliamentary Assembly (2004-09-15--2009-07-13)3 unknown; Coligação Democrática Unitária (PCP-PEV) (2004-07-20--2009-07-13)3 vice-chair; EMPL (2004-07-22--2007-01-14)3 vice-chair; EUL/NGL (2004-07-20--2009-07-13)3 substitute; AGRI (2004-07-21--2007-01-14)3 member; FEMM (2004-07-21--2007-01-14)3 substitute; Delegation to the EU-Romania Joint Parliamentary Committee (2004-09-15--2006-12-31)3 member; Delegation for relations with Mercosur (2004-09-15--2007-03-13)3
lpv:translated text	". The five biggest non-financial multinationals in the Top 7 since 1990 had assets of around USD 1 280 billion in 2003, in other words over 3% of the world’s GNI. The biggest financial multinational, Citibank, alone had that amount in assets, which demonstrates the power that the financial sector wields in the real economy. The real aim of what is referred to as consolidating the financial services sector is to consolidate the internal market for financial services and to integrate the financial markets, with a view to scrapping the barriers to the free movement of capital that still exist, and to encourage company mergers and acquisitions, in sectors such as banking, to enable them to compete in the globalised market. We are opposed to this trend, as expressed in the resolution before us, of which the euro is an instrument and the objectives of which are laid down in the financial services action plan. The gradual financialisation of the real economy has not only led to significant job losses, it has also helped to turn the real economy into a parasite economy by diverting manufacturing investment, and to encourage financial, and subsequently economic, crises due to the extremely volatile nature of the financial markets and the speculative bubbles that they create. This casino economy has only increased the profits of the major brokerage firms, especially in the banking sector. Hence our vote against."@en1

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