Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-24-Speech-1-224-000"
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"en.20111024.20.1-224-000"2
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"Madam President, Mr Hökmark has produced a very good report indeed, and it has to be said that we really have a lot to communicate in the area of global economic governance ahead of the November meeting of the G20 countries. There are two things I would briefly like to mention. First, it is already clear to most of the players that the former global economic order is collapsing and is highly unlikely to continue in its present form. I see this in part as good news, because the levels of global economic inequality and social injustice were beginning to be unsustainable. It is not at all clear, however, that the new system rising from the ashes of today's system will automatically be better.
In the event of an incorrect interpretation of what is currently happening, and incorrect responses to these developments, it is even possible and likely that the situation could deteriorate further. I would therefore like to call on European and national leaders to be aware of the seriousness of the situation and to act accordingly. We have reached a point where time is of the essence and the fates of entire countries and millions of their citizens hang in the balance."@en1
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