Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-03-08-Speech-2-284-000"
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"en.20110308.22.2-284-000"2
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"We are constantly confronted in the EU with the consequences of the financial crisis, which, in 2009, overflowed into a budgetary crisis, a significant aspect of which was the excessive issuing of government bonds. In contrast to the approved report, however, I do not see market pressures in this, but rather the irresponsible budgetary policy of many national governments that are unwilling to reform their pension, health and employment systems. In my opinion, putting the blame on market failure is misguided and shows a lack of courage to face up to the necessary reforms. We have now approved rules on more stringent financial regulation and financial market supervision, and we should go further and take measures to kick-start European economies, for example, in the form of funding for common infrastructure projects and tax incentives for firms to invest in science and research. I would like to warn against the introduction of a tax on financial transactions and various forms of bank taxes, because it would tie up the financial market and distort competition. Eurobonds are not the solution, as they only transfer fiscal irresponsibility to the European level, to places further away from public control, where attempts at excessive spending would have even more serious repercussions than at the national level. I am also not in favour of a Europe-wide carbon tax, as this would impose a disproportionate burden on the energy sector in particular, and ultimately reduce the energy security of the EU."@en1
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