Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-11-18-Speech-2-275"
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"en.20081118.29.2-275"2
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".
Mr President, ladies and gentlemen, only a few days ago in this very Chamber President Sarkozy told us that the crisis that we are experiencing is structural and that what is needed is a rethink of capitalism itself.
Naturally, I think that rather than escaping from the crisis of capitalism we need to escape from capitalism in crisis; in other words, we need to start to think about a new future which provides for a genuine transition to an economy which is described in social and ecological terms, an economic democracy based on equity and cooperation rather than on inequality and war.
Above and beyond these substantive differences, however, which do count for something, I can see that very little remains of the solemn statements on the rethinking of capitalism in the rather modest and fairly disappointing outcome of this G20, for which Europe also bears some responsibility. Certainly, it has been discovered that
dogma can be falsified and that therefore there can be huge public intervention and even nationalisation, but all this will not change the underlying philosophy that created the structural crisis.
Certainly, it is said that we need rules to reduce the risks of speculation, but there is no idea of intervening with regard to this financial speculation – for instance with a Tobin Tax on transactions – and we are not touching the Stability Pact that, in this time of recession, is likely to dramatically worsen lives in this continent of ours. However, most of all, we are not asking ourselves what lies at the bottom of this crisis and so we are not succeeding in tackling it.
I would point to just two issues: the first is the systematic devaluation of work that has been pursued with
policies over recent decades, which has ended up by creating, as well as injustice and suffering, a significant part of the lack of financial liquidity. In 1929 John Maynard Keynes proposed that we should invest in salaries and jobs, but today this is not being done.
The second is the ecological and energy dimension of the crisis, which calls for decisions that are much clearer and starker than the stammering of the G20, but on the other hand it is very difficult for those who created the crisis to resolve it. We need a clear, different signal from the left."@en1
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