Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-11-22-Speech-1-210"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20101122.21.1-210"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:spokenAs | |
| lpv:translated text |
"Madam President, I would also like to say a few words about Ireland. Spiegel Online writes ‘The Celtic Tiger has been taken into intensive care’. We need to ask why is this the case? There can be little doubt that the roots of the financial crisis lie in our monetary system, in other words, the way in which money is generated. Private commercial banks pump incredible amounts of money into the system. This promotes speculation, fuels inflation and, finally, leads to massive debt among those involved. Consequently, we are faced with a systemic crisis that cannot be resolved by investing billions in a ramshackle banking system, even if we do so by diverting funds to the Irish economy. What we need is a real form of money creation. We need to return the generation of money to the public sector. This would enable us to pour hundreds of billions back into European economies. Moreover, the public creation of money would be compatible with a free market economy. However, such massive decisions would require courage and strength from our politicians. It goes without saying that the banks cannot be allowed to lead Parliament on a merry dance any longer."@en1
|
| lpv:videoURI |
Named graphs describing this resource:
The resource appears as object in 2 triples