Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-22-Speech-2-398-000"
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"en.20120522.18.2-398-000"2
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"Mr President, we are faced by a danger, and it is not our continent alone which is affected. The threat stems from the instability and uncertainty of the financial system, and it only needs one country to become unstable for all of us to be exposed to the real danger of economic chaos.
However, before we make a scapegoat out of Greece, we should recall that it was not just Greek officials who helped in the falsification of data on its deficit, but also the banks that operate there, as well as the European officials whose duty it was to monitor and supervise the processes involved. Besides, Greece’s debt is chiefly the effect of the instability written into the structure of the single market and the euro area, the problem of the deindustrialisation of Greece from the moment it joined the Union and the problem of cheap credit. The continuing imbalance in the balance of payments in favour of Europe’s major economies could not have produced any other result.
It is high time for change and to correct flawed policy. It is high time for a policy of growth. In this situation, it is important that we remember – and I quote here the words of the Polish economist Ladislau Dowbor – that to warrant workers better wages and rights is not demagogy; it is a more simple and straightforward way of generating demand and stimulating the economy. Investing in people is what enhances economic development."@en1
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