Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-10-20-Speech-3-477"
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"en.20101020.21.3-477"2
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"We have voted on an extremely long and very complicated report, with an intricate text and structure. There is one thing, however, that is quite unconvincing: the real, deep-seated cause that unleashed the economic crisis we find ourselves in was not given adequate attention, although it is included in the recitals of the text. The cause was not contingent, but structural – and not just in economic terms. The financial crisis was caused, primarily, by the illusion, cultivated by the world’s financial and political elites, that in the third millennium, the economy and wealth could be based more on finance than on the production of goods, more on the astonishing creation of products of financial engineering than on that which is really created, produced, sold and marketed by hundreds and hundreds of millions of enterprises across the world. Unless we recognise the economic and political importance of restoring the real economy, rather than the virtual economy, the report runs the risk of making a fatal mistake: suggesting ways out of the crisis which would ultimately not be a real solution. Europe does not need further centralisation of economic powers at EU level. Europe needs enterprise and less bureaucracy. I have therefore voted against the report."@en1
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