Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-03-07-Speech-1-065-000"
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"en.20110307.17.1-065-000"2
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"Mr President, I should like to thank the rapporteur for this report.
The two major problems facing the European Union are high unemployment and severe debt burdens. Yesterday, in Dublin, agreement was reached on the formation of a new government – a government which is committed to bringing Ireland out of one of the darkest hours in our history. Ireland faces an unprecedented national economic emergency, a fact of which colleagues in this House are all too well aware. Indeed, we need the understanding and support of our colleagues in order to recover from the difficulties.
The incoming government has many challenges to face, including awaiting the results of the second banking stress test due at the end of the month so that we will finally know the extent of the problem. These stress tests will be a damning indictment of the ineffective regulation of Europe’s banking sector – and Ireland’s also – but I say Europe, and I underline that point. There are lessons to be learned. On the employment front, our focus will be to get people back to work.
So, on the issues in this report, three taxation measures are proposed. The financial transaction tax has potential, but we do need – and I welcome the Commissioner’s comments about this – an impact assessment before we make a final judgment. Can I say that taxation should not be about punishment; it is about the building of resources in a fair and equitable manner.
Regarding Eurobonds, again, there are possibilities here for major infrastructure projects. Those concerned about moral hazard should say that if we had good economic governance, that fear should abate. Lastly, the carbon tax: I have some concerns about this, but at least we are debating these very important issues in this House and tomorrow we will take a vote on them."@en1
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