Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-02-10-Speech-3-639"

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"Madam President, world capitalism is experiencing its worst crisis since the Great Depression. As then, it is the working class and the poor who are paying dearly for, and suffering the consequences of, this, whether in Europe or in the poorest countries on earth. World Bank researchers predict that, in 2010 alone, 64 million more people will be plunged into extreme poverty by the crisis and that because of it, in 2009, between 30 000 and 50 000 children have already died in Africa of malnutrition. This crisis is having devastating consequences on world trade, but the demand of the United Nations financial summit last year, for example, that the conclusion of the Doha Round of trade negotiations is the answer, is utterly wrong. According to the respected NGO War on Want, that would threaten a further 7.5 million workers with losing their jobs, including in the poorest countries. This crisis of world capitalism is enormously exacerbated by the activities of the financial speculators on the world markets. Not content with having precipitated the crisis, these parasites now want to exploit it to rake in further billions. Did the EU Commission see the headline in the yesterday: ‘Traders in record bet against the euro’? But what does the Commission do? It falls on its knees in front of the speculators and demands that the countries worst hit by the crisis, like Greece, make savage cuts in workers’ wages, pensions and public services. What do you think such a draconian programme of cuts is going to do for trade, either in Europe or in the world? If you cut the ability of the working class to purchase goods and services, then you cut demand for those goods and services, which means you cut millions more jobs of workers who would provide them. That, concretely, is the prescription of the Commission. Therefore, the tens of thousands of Greek workers who marched yesterday were absolutely right. Capitalism can only bring more suffering and crisis. We need to replace it with a system of human solidarity, based on the values of democratic socialism."@en1
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