Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-04-22-Speech-2-282"

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"en.20080422.49.2-282"2
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"Mr President, the rise in demand from emerging economies, the increase in the price of oil, and climate change are factors that have contributed to the rise in food prices throughout the world, yet they do not explain everything. The turbulent rise of the financial markets has contributed to increasing speculation, driven by the yields offered by raw material funds. The proof is in the increase not only in food prices, but also in the price of nickel, silver and gold. Food prices have shot up 83% since 2005, which, when linked with the high percentage of income that the poorest spend on food, means that we are now faced with the most important factor in increasing poverty and inequality. Yet even more serious is the possibility that we may be on the cusp of a worldwide tragedy of incalculable proportions, which may lead to hunger and death for millions of people. The International Monetary Fund warned against this very situation when it stated that if food prices remain at their current levels, more than 100 million people could die, the majority in Africa. Concerted international intervention is thus urgently needed in order to step up aid to the most needy, because we are dealing with millions of life and death cases here. But this is not enough! Mechanisms to regulate international trade and for effective financial market supervision need to be created to prevent speculative operations that benefit only a small minority at the expense of hundreds of millions of poor and defenceless people. The European Union has an obligation to lead this process at the global level, as it is only through such a stance that the goal of eradicating poverty and promoting peace throughout the world will cease to be utopian."@en1

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