Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-28-Speech-3-263-375"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-09-28"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"de"^^xsd:language2
lpv:document identification number	"en.20110928.19.3-263-375"2
lpv:hasSubsequent	lp_eu:2011-09-28-Speech-3-263-5002
lpv:speaker	lp:Gerald Häfner2
lpv:spokenAs	substitute; PETI (2009-07-16--2012-01-18)3 member; AFCO (2009-07-16--2012-01-18)3 substitute; Delegation to the Euronest Parliamentary Assembly (2009-09-16--2014-06-30)3 unknown; Bündnis 90/Die Grünen (2009-07-14--2014-06-30)3 member; G/EFA (2009-07-14--2014-06-30)3 member; JURI (2009-07-16--2012-01-18)3 substitute; Delegation for relations with the countries of Southeast Asia and the Association of Southeast Asian Nations (ASEAN) (2009-09-16--2014-06-30)3 vice-chair; Delegation for relations with the Korean Peninsula (2009-09-17--2014-06-30)3 substitute; Delegation to the EU-Armenia, EU-Azerbaijan and EU-Georgia Parliamentary Cooperation Committees (2009-09-16--2014-06-30)3
lpv:translated text	"− The measures in the ‘six pack’ do not go far enough. We do not currently have a lack of money. We have more money than we know what to do with, but it is in the wrong place. By allowing unregulated casino banks to do business, we have created incentives which have contributed to the fact that around 98% of the money now in circulation throughout the world does not serve a productive or consumptive purpose, but purely a speculative purpose. These destructive ‘financial markets’ – the term is in fact a perversion in itself, because money cannot be a product, instead its value is determined only by its link with an actual value such as a human ability, a product or service – have long since dominated the real, value-added economy and are increasingly holding states in the palm of their hands. This does not mean that we should allow them to dictate to us which measures we must take. Reducing public debt is a sensible and necessary move. Strangling the economy and society without tackling the problem that has been described is not. Otherwise the measures taken will increase the threat rather than counteracting it. Every debt has a corresponding credit and every interest payment has a corresponding interest gain. The unimaginable profits of this irresponsible speculation are being pocketed privately, while the costs are a burden on society. Unlimited debt guarantees are making the spiral of speculation even worse. Without linking risk and liability, without debt reduction, without the realisation of losses made by banks and investors, we will not be able to emerge from the crisis."@en1

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