Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-02-10-Speech-3-645"

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"en.20100210.33.3-645"2
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"The financial crisis brought on by the US financial sector grew very quickly into an economic crisis which immediately affected all areas of economic life. The inevitable consequences were a rapid decline in consumer spending power, a decline in output, higher unemployment, lower fiscal revenues and less money to finance state budgets. As output fell all over the world, of course, the value of goods traded necessarily had to drop with the decline in production. If, therefore, we are now asking how to achieve stability or even growth in the volume of global trade, ladies and gentlemen, it can only be through effective measures for halting economic collapse, through measures for stabilising the economy and through the gradual start-up of economic growth. The current economic system is so interlinked and globalised that, in my view, it is a worthless illusion to rely on limited artificial interventions that target specific sectors and produce no added value."@en1
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