Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-07-08-Speech-2-391"
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"en.20080708.36.2-391"2
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"Madam President, I would caution my colleagues against demonising sovereign wealth funds, let alone, Mrs van den Burg, private equity investors. Recycling surpluses is highly desirable, whether by spending or investment. The 1930s Depression was the result of hoarding by surplus countries. Much better that these surpluses are recycled as investments to where they are needed – to our banks with their capital shortfalls, to our infrastructure needing modernisation, our real estate in its current difficulties and our business and industries in general to create and preserve jobs.
Yes, we need reciprocity, but the EU is the biggest investor internationally anyway. This must not be an excuse for protectionism to keep out other investors. Surely we have our competition policy to deal with cartels and monopolies. We have our labour and health and safety rules to protect our workers, and, as a last resort, we have our sovereign right to legislate against unacceptable political interference. Do not look gift horses in the mouth!"@en1
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