Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-06-11-Speech-1-129-000"
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"en.20120611.21.1-129-000"2
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"Madam President, there is one major cause of the protracted impasse which Europe is going through: the lack of concerted action. Unfortunately, the vacuum created by the great absence of solidarity, a feature of the European project, is being successfully filled by national interests. Germany provides the most telling example of this with its opposition to the issuing of bonds.
To ensure its survival, the European Union needs to adopt urgent, credible measures with the main aim of reducing social inequalities and restoring European citizens’ confidence in the benefits of European integration. The austerity measures promoted by certain national governments have only served to widen social inequalities. On this point, as Stiglitz comments in a recently published article, inequality results in profound neglect of human potential, which hinders consumption and heightens the tensions in society. This is precisely what the Great Depression did last century as a result of the huge cuts in the funding of basic services and the unprecedented rise in unemployment; in other words, it exacerbated the inequalities. It is time for us to learn this lesson from history and adopt bold measures to stimulate the economy, such as the financial transaction tax and the issuing of bonds."@en1
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