Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-05-19-Speech-3-024"

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"en.20100519.3.3-024"2
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"Mr President, ladies and gentlemen, yes, we need responsible public spending. Yes, we need to balance our budgets. This requires responsible management of expenditure, and enough has been said about that for the moment. Yes, of course, this requires increased mutual supervision between equals. But, no, Members of the Council – and this is, I might add, addressed above all to the gentlemen Members, and not so much to the female Members – it is a sham to let people believe that we are going to meet the current challenges solely by reducing expenditure, as that will most certainly plunge Europe into recession, that will most certainly destroy the social fabric, this social cohesion that is part of the EU’s identity. Therefore, if we wish to bring public finances back into balance, which is the only option, and also be able to invest – because this is not simply a matter of reducing deficits, but of investing in our future – we will have to find new income streams. This means making the financial sector contribute, it means imposing a tax on financial transactions, but also on the banks, and it is not a matter of choosing one or the other. It means making those who have profited the most from the situation contribute – I am talking here about the energy sector; it means stopping the handing out of gifts, such as all the tax reforms that have been implemented, to society’s richest individuals or to companies that take advantage of tax havens, and really trying to stamp out tax fraud. This therefore means breaking another taboo, ladies and gentlemen: not the tax taboo but the taboo of sovereignty, which you, Members of the Council – and, unfortunately, with the support of the Group of the European People’s Party (Christian Democrats) – will defend to the death. Better to have tax sovereignty and failure than to really tackle the roots of the problem. Finally, with regard to financial supervision, I should like to encourage …"@en1
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