Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-05-19-Speech-3-015"
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"en.20100519.3.3-015"2
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"Mr President, the most recent Council meetings indicate that far-reaching changes are under way. We are currently experiencing a process of governmentalisation of European policy. The Treaty of Lisbon praised the role of Parliament and the strengthening of that role. We have also spoken out in praise of this.
Fundamental agreements are now being reached between the governments and inconceivably large amounts of money are being spent. Until now, the parliaments have had little say in the matter and we must put a stop to this. The method used by those in government has resulted in huge sums being spent to rescue banks which are themselves responsible for getting heavily into debt. These governments have saved casino capitalism using taxpayers’ money. However, they have taken a very hesitant approach to rescuing the states that are in debt. Somewhere, they managed to find EUR 750 billion. The question is whether the money printing press will save economic development. I believe that it is more likely to save the banks’ capital. However, the European Union must be more than just a free internal market with a single currency.
Mr Barroso is right when he says that without an economic union, we can forget the monetary union. However, I cannot yet see any clear outlines. Persisting with the failed Stability and Growth Pact has relatively little to do with the sensible coordination of economic policy. What we are lacking is a social union. We are lacking the lasting and effective re-regulation of the financial sector. We are lacking a coordinated tax policy and wage policy and a tax on financial transactions. Although we have been talking about this tax for a long time, it remains just talk.
It is time to safeguard the social state by means of the EU institutions, not to dismantle it. The Greeks and other nations are afraid because they can see the measures that are being taken on the social side. It is time to fight for the harmonisation of social standards at a high level.
Hedge funds must be banned and tax havens abolished. We are making very slow progress in combating the crisis in the financial markets. In the light of the speed with which the speculators are acting, we are doing far too little. During emergencies like those that we are repeatedly being faced with, it is totally wrong to nationalise the billions which are being spent as losses and privatise the profits. The banks must not be allowed direct access to taxpayers’ money with the support of the state. Incidentally, one thing is clear to me, and that is that in the current conditions, we will have to redefine the term ‘bank robber’."@en1
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