Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-10-20-Speech-3-072"

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"Crisis is a very complex phenomenon; so allow me just a few comments since there is little time. Firstly, too great an emphasis is placed on the criterion of public debt within national economies when other indicators are equally important. At the same time, a certain amount of public debt is inevitable in times of crisis, inasmuch as the governments must compensate for deficits in the private sector with economic activity in the public sector, or more precisely, by public stimuli for the private sector which may slow down growth in unemployment. This is because, ladies and gentlemen, in all these numbers, we are forgetting about the people who did not cause the crisis; we are forgetting about unemployment and the worsening social situation. I would also like to emphasise the fact that without Europe-wide coordination on economic policies and finance sector regulation, the way out of the crisis will be very difficult. In conclusion, I have one final appeal or request. Commissioner. For several years, I have been calling for real action to be taken as regards the situation concerning tax havens."@en1
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