Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-24-Speech-1-153-000"
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"en.20111024.16.1-153-000"2
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"Mr President, in recent weeks, the Portuguese people have lost 14% of their pensions, while in recent years, they have lost 30% of their pensions and one fifth of their salaries to innumerable tax hikes. However, what you did not know is that this country in difficulty is making direct overseas investment, which has rocketed by 134% over the last year, 80% of which goes to a single country – the Netherlands – which is an EU country, where 19 out of the 20 largest Portuguese companies have created fictitious headquarters so as to escape taxation.
What this means, ladies and gentlemen, Mr President, is that there are countries that are losing out from the crisis and countries that are gaining from the crisis. This situation is bad for both, since it prevents us from seeing the evidence – and this could perhaps destroy us – that common budgetary targets without fiscal harmonisation sets Europeans against one another and could destroy the euro. In 1919, a European called John Maynard Keynes said that if debate were along the lines of prudent generosity instead of imbecile greed, the financial prospects for Europe would be much better. Tragically, the decades that followed showed that he was right and we know that no one gained from them."@en1
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