Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-29-Speech-4-016-000"
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"en.20110929.3.4-016-000"2
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"Mr President, the European Globalisation Adjustment Fund was invented to persuade Member States to adopt Lisbon without national referendums, but this expensive project has insufficient checks. In Antwerp, General Motors claimed EUR 9.5 million from the EGAF. Their redundant workers received EUR 150 000 each and then some found work with Volvo nearby. Of the five countries with negative growth, three have put in no claims, while stronger economies have, with Denmark, the Netherlands and Austria leading the way, and several more this week.
Many firms are closing due to trade moving to the Far East. Glasfiber in Denmark closed because their manufacturer of wind turbines moved to China. This does not happen just because Chinese workers are on low pay; indeed, on Tuesday in this House, the Commissioner discounted that. More to the point, what he said was that China’s central bank sets its own interest rates, while the exchange rates make Chinese products more attractive on world markets. EU manufacturers will struggle on world markets if euro membership makes their products too expensive – ask Greece!"@en1
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