Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-11-18-Speech-2-318"
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"en.20081118.29.2-318"2
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"Madam President, the informal meeting of the European Council and the G20 summit in Washington attempted to respond to the most important current challenge: the financial crisis which, without a doubt, represents a defeat for neo-liberal economic theories. The declarations issued by those meetings resemble nothing so much as closing the stable door after the horse has bolted, and I was sorry to hear Mr Barroso say that it was only the crisis that has changed their thinking.
They have failed to address the burning issues of how to arrest the recession, how to create new jobs and, finally, how to combat climate change without incurring unnecessary economic costs. European Socialists have long since been calling for a reform of financial markets and for coordinated action by European Union governments.
It is my view that we cannot concentrate just on financial markets, where financial institutions and greedy managers have brought about the present situation. We must protect our citizens against food, energy and rent price rises so as to maintain their real income levels and thus to protect their purchasing power: the consumer demand which, together with investments and exports, has such a significant impact on economic growth in the European Union. We must also protect the profitability of small and medium-sized enterprises.
If the climate and energy package is retained in its present form, especially where the emissions trading scheme and the demands on power plants and heavy industry are concerned, I must warn that in Poland and in other new Member States this will lead to considerable costs and above all a tremendous increase in energy prices. Fighting climate change is a legitimate objective, but the battle cannot be fought by means which will quickly lead to another crisis, when we have not yet managed to overcome this one."@en1
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