Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-10-08-Speech-3-078"
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"en.20081008.14.3-078"2
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"Despite the somewhat emotional words on the financial crisis and related crises, basic measures to deal effectively with these crises are still not forthcoming. Even when some ad-hoc measures that were rejected only a few months ago are accepted, such as the nationalisations of banks that have gone bankrupt due to poor management on the part of their administrators and some of their main shareholders, who have pocketed the substantial profits and gains and left the general public to deal with the damage, this is always done in defence of big business, without really taking into account the interests of workers and the least well-off. They do not tackle the root of the issue. They do not abolish tax havens. They do not scrap the false independence of the European Central Bank. They do not do away with the Stability Pact. They do not adopt a Solidarity and Social Progress Pact.
The ECB lowered its own base rate too late, after a short-sightedness that has already cost the more fragile economies and those who are in debt to the banks dearly.
In this way, the issues that are on the table are of prime importance and call into question the neoliberal policies that gave utmost priority to free competition, worsening exploitation of workers and multiplying the problems of micro, small and medium-sized enterprises. There needs to be a clear break with these neoliberal policies at the next Council."@en1
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