Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-27-Speech-2-150-000"
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"en.20110927.5.2-150-000"2
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"I was wondering whom to address this question to because my question has development implications but it has also got financial implications. Are the Commissioners aware that EUR 800 billion worth of funds come from the developing countries to European banks and European offshore banks every year? It was recently reported that USD 1.3 trillion, which is the entire debt of Italy, has come from India into Swiss and European banks as black money.
These are staggering figures that we are talking about and they have huge development implications for developing countries, because if that money were to work and remain in those countries, and were a part of those countries’ economies rather than sitting around outside them in our banks, that would have huge implications for development. What are we doing in our trade relationships to prevent corruption from being a part of our trade interaction and our bilateral relations?"@en1
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