Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-04-22-Speech-2-421"
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"en.20080422.53.2-421"2
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"Thank you, Mr President, Commissioner. The verdict in this case truly offers hope that the European Court of Justice understands the European Union’s four basic freedoms in real terms. On this occasion the term ‘social dumping’, which is so popular in this Parliament too, did not work in a case where the objective was to ban a business from another Member State from providing services in the EU internal market. In this discussion, I would like to single out one political aspect: EU Member States, and among them, largely, states such as Sweden, have in recent years made enormous profits in the Baltic states through the provision of ‘aggressive’ financial services, particularly loans for immovable property. We have never restricted the flow of this capital, even when the profits were exceptionally high and were partly obtained through the singular social dumping of exports – that is, Latvians who worked in these banks received salaries that were nowhere near the pay received by Swedes for the same work in Sweden. Now, during the financial crisis, many Latvian families will be paying through the nose for a long time for the money they have borrowed, but our people and our businesses will not be able to compete in the EU market, and so they will not be able to pay back these debts. As a result, it will in reality be the Swedish pension funds and other bank shareholders themselves that will lose out. Ladies and gentlemen, we are all in the same European boat: let us allow Europe’s basic freedoms to be truly free, as we will all gain! Thank you."@en1
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