Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-04-05-Speech-2-023-000"
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"en.20110405.3.2-023-000"2
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"Madam President, every time the EU is confronted with a specific problem, it falls into the trap of devising a complex, bureaucratic, heavy-handed solution which is often completely disproportionate to the severity of the issue. This is the mistake that we are now making with regard to the current financial crisis: it is serious, it does require action, but many of the proposed solutions will have far-reaching and, in my view, highly damaging effects for the long-term future of Europe.
The opportunity is being seized on by many to launch plans for permanent economic governance, with intervention and control as its guiding principles. The solution, we are told, is firstly to abuse the existing rules such as Article 122 of the Treaty, which was never intended for the bailouts that it has been used to pay for – my hope is that some country will have the courage to challenge this in the European Courts – and to impose more limitations on our Member States, which in reality means constraining the democratic choice of many of the electorates.
If you look at the case of Ireland, that country has tried its very best to stabilise its banking system – stabilisation, incidentally, which is desperately needed by banks and institutions in other Member States, which would otherwise be terribly exposed – and Ireland’s reward for that is to face demands from other Member States to increase its own rates of corporation tax in order to compete with the bloated situations in other countries. It is unjust and it is undemocratic."@en1
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