Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-05-06-Speech-3-520"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20090506.42.3-520"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:spoken text |
"Mr President, can I end up by thanking all the interpreters and thanking you all.
I think it is important to recognise the report in the context in which it is set. This is going to be one of a number of reports we are going to see on the financial situation, yet, as my colleague Dan Hannan said, we seem to be missing the point.
How did the crisis start? Actually it started in the United States of America with the subprime problem. How did the subprime problem start? It is because banks were encouraged to lend or forced to lend to uncreditworthy customers. So what we did – across the world, not just the United States of America – we built up a mountain of debt.
When it comes to tackling that mountain of debt, rather than stimulus and extra financial regulation stifling innovation, I prefer the Jimi Hendrix approach. When he saw a mountain of debt, he said: ‘Well I stand up next to a mountain and I chop it down with the edge of my hand. I stand up next to a mountain and I chop it down with the edge of my hand.’ I think we can all learn from that."@en1
|
| lpv:spokenAs | |
| lpv:unclassifiedMetadata | |
| lpv:videoURI |
Named graphs describing this resource:
The resource appears as object in 2 triples