Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-05-19-Speech-3-359"

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"Mr President, the 2020 strategy ought to incorporate opinions on the economic crisis and propose a new form of governance rather than try to mend the current failing system. First of all, let us get rid of some false ideas, particularly those concerning Greece. This is not a Greek crisis. Greece and its population are the victims today of a predatory economic and financial system, a system which has seen the G20 countries fork out, all in all, several thousands of billions of dollars in a few days in order to save the banks, but which leaves Greece in agony for several months. International summits are now ignored; what will be, will be. Finally, finance was going to be regulated and Europe had its endless discussions, but the vultures have not gone away. So now what is everybody saying? That the market must be reassured. Who is the market, though? Speculators, whom we must appease as if they were demigods and to whom we must make offerings so that we can beg them for mercy. How much longer do people have to endure this cynical approach? How much longer do we have to live under the illusion of a market which gives financiers more than they deserve but which impoverishes the people? We cannot allow the terrorism of financial markets to bring whole countries to their knees. A counterfeiter runs a huge risk because he is attacking an element of a State’s sovereignty: its currency. However, when a trader speculates on a country’s debt, he does not risk a thing. When will the white-collar criminals of high finance be properly punished? Speculators who greedily feed off the public should be outlawed; the casino banks that gamble with the lives and futures of citizens should be abolished; and the EU should be required to properly supervise financial markets, rather than attack public services. Ladies and gentlemen, to finish, I think that they have been playing this joke on us long enough. We can hold an extraordinary summit every Friday and release billions, but if we do not tackle the roots of the wrongdoing, one of these Fridays, we will end up announcing that the EU is bankrupt."@en1
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