Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-02-15-Speech-3-067-000"
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"en.20120215.4.3-067-000"2
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") The intergovernmental treaty that the European governments are about to sign is unacceptable for two reasons. It is unacceptable in terms of the procedure adopted, which is anti-democratic and rides roughshod over half a century of the Community method. It is also unacceptable in terms of content, in that it is aimed at tightening the already suffocating straitjacket of the Stability Pact and imposing unprecedented austerity policies throughout Europe.
These policies can do nothing but plunge us into a lasting recession, destroy our social model and make the poorest citizens pay the price for a crisis of which they are the first victims. They will not resolve the debt problem as austerity will kill consumption and investment and, with them, any hope of growth or the recovery of public finances.
The fact the ECB has just granted the banks a loan of EUR 489 billion for three years at 1% interest, while Greece has a knife put to its throat, is proof that Europe has currently got things completely the wrong way round. Curiously, these banks are not suspected of ‘moral hazard’, in contrast to the Member States, which the ECB is not allowed to finance directly. They will therefore be able to buy back sovereign bonds at 6 or even 10% and continue their speculative activities with this free money. This is not the Europe we want."@en1
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"Liem Hoang Ngoc (S&D ),"1
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The resource appears as object in 2 triples