Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-10-20-Speech-3-047"

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"Mr President, ladies and gentlemen, we should have listened to the advice of the Nobel laureate, Maurice Allais, who called for a clear separation between business banks, credit banks and speculative banks, in accordance with the principles of the Glass-Steagall Act, which is not discussed in this report. As far as the proposal to tax European taxpayers is concerned, my response is ‘No tax in Europe!’ If this European Union proposal goes ahead, you can rest assured that we will have our own Tea Party here as well: there will be a mass protest. The European public has no intention of paying for a service they are not getting and they are perfectly right. We are continuing to fund the banks. However, what are the banks doing in the midst of this economic and financial crisis? They are buying securities, even ones that contain dodgy derivatives and so on. They are still buying them. And what is the ECB doing while this is going on? The ECB – set up to be an unchallengeable body – is letting it go on. It seems clear to me that this is a Europe for bankers. If even the Masonic leaders claim this to be true, I do not see why we cannot claim it too. We believe that there is only one way to combat speculation effectively: transactions carried out at the same time as negotiations are paid for, and only in cash. Mrs Merkel dared to say it and she was shouted down. There must be some reason for that."@en1
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