Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-28-Speech-3-223-375"
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"en.20110928.19.3-223-375"2
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We adopt regulations which are binding on the Member States and on taxpayers, on citizens and on society. Despite the fact that this may seem necessary in terms of fiscal and economic policy in a monetary union, at the same time it involves a dramatic restriction of freedom and democracy. The decisions made in this way will have a major impact on hundreds of millions of people over the next few years. They will result in cuts in social security spending, wages and pensions and they will put a stop to necessary investment in the future of our countries. As far as sustainability, intergenerational justice and cooperation in financial and economic policy are concerned, this should be welcomed. However, as long as we regard these savings as the response to the financial crisis of the last few years and do not tackle its real causes, this will be a fatal solution that affects the wrong people and continues to expose our community and the public budgets to the world of financial speculation, which is still not adequately regulated. On their own, the measures which have been decided on do not yet represent the treatment. Instead, they are continuing the scandalous situation which is leading to a huge reallocation from the taxpayers to the banks, from the public to the private sector, from the funding for investment, culture and social services into the pockets of irresponsible financial agencies, from the real economy, from the productively employed and the service providers to the investors who do not provide a service, from the future to the past. As a result, we are putting our community at risk."@en1
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