Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-12-01-Speech-4-046-000"
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"en.20111201.3.4-046-000"2
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"Mr President, I have here a ransom note that was sent to the Italian Government on 5 August and sets forth a detailed prescription of austerity measures that had to be implemented. Every one of these measures involves attacks on the rights and living standards of working class people. The note is signed off by you, Mr Draghi, as well as by Jean-Claude Trichet, and comes from the European Central Bank. It finishes with a line that is fairly ominous: ‘We trust that the government will take all the appropriate actions’.
The hostage here, of course, was the threat not to buy Italian bonds. Within the Troika, the ECB has been aggressively pushing the austerity measures that have pushed people to misery in Ireland, Portugal and Greece. The ECB has also been a central co-conspirator in the silent coups that have now been carried out in Greece and in Italy, replacing elected governments with governments of bankers.
Could you now please drop the pretence that has been repeated here today, that the ECB is in some way independent? It is independent only of any democratic checks and any accountability to ordinary people. It is subservient to the interests of the capitalist classes, the rich in the core euro countries, and it has acted as their shock troops throughout this crisis."@en1
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