Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-23-Speech-3-275-125"
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"en.20120523.15.3-275-125"2
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"The global financial crisis, which began to show itself in 2008, is, unfortunately, far from over. Instead, in some ways, with productive sectors now weakened by the period we have gone through, it seems even more serious and now might become structural within economic systems. On the other hand, even the repeated and numerous recurrences of the original causes of the crisis demonstrate that the ‘market’ is not an abstract entity that can regulate itself efficiently, as experts in the new welfare economy would still have us believe, but that it is, instead, a system managed by a few individuals worldwide who, often unscrupulously, attack financial markets, productive systems and institutions with the hope of profiting from their weakening or even from their failure. The actions taken by each individual country are not enough to address this global crisis. What we need are decisions made at an equal level. The financial transaction tax would be useful in mitigating the devastating effects of raider activity, especially if it were adopted globally and if it did not impact on national bonds or pension funds. Meanwhile, and in the hope that this might happen, it is important that it should start, at least, with the European dimension. This report and the amendments adopted are in line with this outlook."@en1
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