Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-04-18-Speech-3-376-000"
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"en.20120418.21.3-376-000"2
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"Mr President, the ailing countries of southern Europe must withdraw from the eurozone, return to their own currencies and allow the values to fall to their market levels. This will lead to export-led expansion in each country. Austerity measures are strangling the economies of these ailing countries – they need expansion, not suffocation.
The embrace of neoliberalism and globalism must be abandoned. The challenge from the emerging economies like China must be tackled head on. We must protect our economies from their cheap exports, kept low by artificially low wages and undervalued currency. Infrastructure must be rebuilt, repaired and brought up to date by public initiative. This must be financed by delayed payment quantitative easing and not by interest-bearing debt.
President Obama, introducing his American job spill, saw the contradiction between infrastructure and disrepair and unemployed construction workers. We nationalists have a principle. What is physically possible should be financially possible. If it is not, there is something wrong with the financial system."@en1
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