Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-06-16-Speech-3-036"
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"en.20100616.4.3-036"2
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"Mr President, Mr López Garrido, ladies and gentlemen, I would like to ask you to pass on a message to the other members of the Council. The time for the policy of excuses is over. It is important that you do not decide tomorrow that Parliament should adopt the supervisory package and the hedge funds package more quickly as part of the regulation of the financial markets, while the Council – and I do not mean you personally, Mr López Garrido, but I want to encourage you to help us – simultaneously puts on the brakes and prevents us from finding solutions.
The trialogue of the Council, the Commission and Parliament is meeting in this House at the same time to discuss the issue of regulating hedge funds. We have proposed appropriate regulations, which prevent the finance industry from gobbling up industrial firms using speculative funds and bringing the real economy to its knees. However, the Council is blocking these regulations. Please tell the Heads of State or Government that the time for the policy of excuses is long gone. It is no longer acceptable for them to give big speeches at home about the regulations that Europe can introduce and then to chicken out when their officials begin working at a European level. The time for this is past and we can no longer afford to behave in this way in the context of the economic crisis.
I would like to ask you the same question, Mr Barroso. It does not matter whether you are mentioning the word ‘growth’ here for the 49th, 52nd or 64th time. It is much more important for you to explain why it is that, as the Economic and Financial Affairs Council (Ecofin) stated the day before yesterday, the Member States of the European Union will have to make huge cuts amounting to 3.5% of their gross national product, but you are not telling us how you will use this money to prevent a dreadful catastrophe on the labour market. In this situation, we must learn to grow together. However, you need to explain how this will happen. Otherwise, the Europe 2020 strategy will not be worth the paper it is written on. We need real answers instead of fictitious answers and excuses in order to ensure that the institutions which you represent are part of the solution and not part of the problem."@en1
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