Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-12-Speech-3-058-000"
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"en.20111012.14.3-058-000"2
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"Mr President, President Barroso, what we have long been saying is inevitable is approaching: the restructuring of Greek debt, with a substantial haircut. The country is facing economic and social devastation resulting from intervention by the International Monetary Fund, the European Central Bank and the Commission. It is obvious that the Greek people can no longer put up with the process of distortion to which they have been subjected. It would be preferable for them to draw the proper lessons while there is still time, and to rein in immediately identical processes already under way in other countries, such as Portugal. If the same steps are taken, the results will inevitably be the same.
Once again, it is the Franco-German directorate making the decisions. National and European governments and authorities heed these decisions. It is obvious who is master and who is servant in this Union. The recapitalisation of the banks, which they are currently preparing, will be another huge transfer of bank debt to the public sector; that is, onto the backs of the workers and the peoples of Europe. The answer to this is organised social struggle that builds and intensifies, as is happening in Portugal, with countless protests, strikes and demonstrations, involving ever more sectors of society. Therein lies the chance of a better future."@en1
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