Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-28-Speech-3-081-000"
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"en.20110928.3.3-081-000"2
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"The speech made in the European Parliament today by the President of the European Commission was just another number for the markets to see. At the same time, it was an attempt to silence the critics who had been accusing the Commission and its President of inaction and of systematic submission to the German directorate of Chancellor Merkel. In the end, the applause that united the Group of the European People’s Party (Christian Democrats) and the Group of the Progressive Alliance of Socialists and Democrats in the European Parliament is enlightening and symbolic of a ‘unity’ that has driven the EU and its Member States to the current crisis, which is still there, as can be seen from the adoption of the economic governance package, welcomed by Dr Barroso. That package represents the reinforcement of the Stability and Growth Pact and the restrictions inherent to it, which particularly affect the weaker economies and are largely responsible for Portugal’s weak economic growth over the last decade. As for the rest, strengthening the European Financial Stability Facility represents nothing more than transferring yet more public debt held by banks to the public sector; that is, onto the backs of the workers and the people. The financial transaction tax has been announced for the umpteenth time; doubts remain about its practical effects. For the time being, the most speculative products – such as derivatives – have been saved, with derisory taxes, whilst tax havens remain untouchable. Combating speculation has, therefore, had scant practical results."@en1
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