Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-06-Speech-3-100-000"

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"Mr President, the first report of the Special Committee on the Financial, Economic and Social Crisis clearly identified the many causes of the financial crisis and their subsequent consequences for the EU and the global economy. I was confident that the second report would concentrate on what measures we would propose to ensure long-term growth and competitiveness in order to ensure the EU’s future prosperity. I am disappointed, therefore, that we cannot support the final result. The very idea that ‘more Europe’ – the central thesis of the final report – is the EU solution to a global economic crisis is one that my constituents in Wales are unable to relate to. It is not obvious how the EU speaking with one voice at the IMF or having one single European commissioner to deal with financial services legislation could somehow have prevented the worst financial crisis since the Great Depression or indeed how these measures will fuel the economic growth necessary for Europe to recover from the ongoing crisis. Yet, the most sinister part of the report – there seems to be a use of the crisis as an excuse to renegotiate membership of the EU – is the idea that the EU budget should be increased to 5%-10% of the EU’s GDP. To put this in perspective, at the moment, certain Member States, including my own, are quite rightly refusing to allow a 5% increase in the EU budget. Yet this report proposes up to a 900% increase. I think more than five Member States will be happy to sign a letter protesting against this suggestion of a 900% increase. My group fundamentally disagrees with many of the other issues raised in this report, like tax-raising powers for the EU and a common immigration policy. Therefore, I urge others to vote against this report today."@en1
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