Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-02-10-Speech-3-938"
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"en.20100210.33.3-938"2
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"The trend for outsourcing in the 1990s has led to capital and also expertise being transferred abroad within the world economy. The fact that jobs have been and are being created in countries with low wages has resulted in average wages falling in Central and Western Europe, which, in its turn, has caused a fall in consumption levels. The consequence of this is that European companies are no longer making the majority of their profits from producing goods, which is their core business. They are attempting to improve their results by means of financial transactions and speculation. This is the point at which we must start. We need to impose a quota on how much ordinary share capital companies can invest in stocks and shares and also on how much of their reserves they can deposit in financial packages in third countries. Secondly, we need regulations for the companies that have suffered damage as a result of the crisis. Thirdly, the economy requires not only fresh capital for the banks, which were one of the main causes of the crisis, but also and, more importantly, new regulations for money transfers, strict guidelines on the sale of credit packages and an independent supervisory body for the new and flourishing trading business, which includes areas such as short selling, that should be banned."@en1
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