Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-08-Speech-1-154"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2010-03-08"^^xsd:date2
dcterms:Is Part Of	lp_eu:Taxation of financial transactions (debate)2
dcterms:Language	"el"^^xsd:language2
lpv:document identification number	"en.20100308.17.1-154"2
lpv:hasSubsequent	lp_eu:2010-03-08-Speech-1-1552
lpv:speaker	lp:Nikolaos Chountis2
lpv:spokenAs	member; Delegation for relations with Albania, Bosnia and Herzegovina, Serbia, Montenegro and Kosovo (2009-09-16--2014-06-30)3 member; ECON (2009-07-16--2012-01-18)3 unknown; Coalition of the Radical Left (2009-07-14--2014-06-30)3 substitute; AFET (2009-07-16--2012-01-18)3 member_of_the_bureau; EUL/NGL (2009-07-14--2014-06-30)3 member; Special Committee on the Financial, Economic and Social Crisis (2009-10-08--2011-07-31)3 substitute; Delegation to the EU-Russia Parliamentary Cooperation Committee (2009-09-16--2014-06-30)3 substitute; Delegation to the EU-Ukraine Parliamentary Cooperation Committee (2009-09-16--2014-06-30)3 substitute; SEDE (2009-07-16--2012-01-18)3
lpv:translated text	"Mr President, there can be no doubt that the recent financial crisis has shown that the liberalisation of the financial markets and insistence on the freedom of the market has allowed the financial system to grow dangerously large in relation and in correlation to the real economy and to operate for years on the basis of massive profitability, unaccountability and no regulation, ultimately leading to the crisis. The proposal, therefore, for a tax on financial transactions could limit the size of the financial system and make certain speculative financial options unprofitable. However, this measure will be dead letter unless it is accompanied by an integrated plan for regulating the financial system, so as to minimise the abusive policies applied by banks and speculation by hedge funds and credit rating firms which are exacerbating and exploiting the economic problems in numerous countries. Nonetheless, in my opinion, any such measure should not simply be considered a temporary measure. The banks must pay off the massive support packages which they have received from European governments, packages which ultimately increased the financial deficit in those countries. These countries are now being forced to borrow from the same banks, thereby paying them twice. We must be clear. The banks must pay off their debts to government. That is why, apart from anything else, we need to impose a tax on financial transactions, firstly in order to limit the size of this financial sector and, secondly, in order to save resources for new social and development policies."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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