Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-13-Speech-4-082-000"
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"en.20111013.4.4-082-000"2
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"Madam President, ladies and gentlemen, the past 20 years have been a period of exceptional prosperity in Europe and America. However, the benefits of this almost uninterrupted economic growth have not been enjoyed equally by all. Rather than having a positive impact on combating poverty, they have resulted in increased social inequality. The problem has been further compounded by the current economic crises, the effects of which are being borne mainly by the lower classes.
We have suddenly reached the conclusion that the current financial disparity is nearly the same as it was prior to the economic crisis of the 1930s. The basic problem that we are facing is the question of how to stimulate our economy.
We have to realise that economic development is generated not by millionaires but by ordinary consumers. This philosophy is reflected in the employment legislation proposed by Barack Obama. The bulk of new jobs are not created in jet aircraft factories, shipyards manufacturing luxury yachts or financial institutions speculating in global markets, but in enterprises that provide goods and services for mass consumers. It seems that any potential economic growth will be achieved not only through reducing budget expenditure but, first and foremost, through stimulating consumption. We should not worry about the fate of millionaires – they will succeed without our help. We should rather be concerned about those whose lives have been torn apart by the crisis."@en1
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