Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-25-Speech-4-204"
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"en.20100325.34.4-204"2
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"I abstained from voting on this particular report. We must see that the recession is not going away, given that the economic situation in almost all the Member States is clearly negative and unemployment is increasing. The specific problem is not one of ‘sound’ finances. Countries such as Greece face problems with public borrowing due to both speculative attacks by the markets and the institutional and political problems of EMU. The crisis in public deficits, which is a general phenomenon throughout the EU, is due, among other things, to the massive scale of tax evasion, which is something that the Commission forgets. Apart from that, the support packages for the banks from national governments also increased public deficits, as the Spanish Presidency admitted in answer to my question on that point. Be that as it may, insistence on the Stability Pact, especially in a recession, is a disaster. It exacerbates social inequalities and results in cuts in public investment, it increases unemployment and it undermines countries’ growth prospects. That is why the anti-growth and anti-social Stability Pact needs to be changed and a different framework needs to be configured for the exercising of economic and social policy, predicated on work and social needs and sustainable, viable growth."@en1
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