Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-10-26-Speech-5-237-750"
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"en.20121026.23.5-237-750"2
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".
What we are discussing here is the creation of so-called ‘financial instruments’ as a way of transferring funds that were public (such as the Cohesion Fund) into the financial (and speculative) sphere. The report also advocates the widening of their field of application to include ‘projects, project groups or parts of project programmes that will generate income and profits’ through public-private partnerships. These instruments and the funds attached to them will be used to finance large infrastructure projects, which will serve to consolidate the ‘single market’ and its beneficiaries. We are diametrically opposed to this decision, which will lead to an even more unequal distribution of the resources of the European Union budget while impairing the cohesion objectives."@en1
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