Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-10-26-Speech-5-260-000"
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"en.20121026.23.5-260-000"2
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".
This proposal, backed by the majority of the European Parliament, is part of a wider set of proposals that have emerged against the backdrop of one of the most serious eruptions of the systemic crisis of capitalism, which follows the old principle of ‘changing things so that everything stays the same’. In essence, the products and mechanisms that make financial speculation possible remain in place. Under the pretext of providing greater regulation, this set of recommendations for legal harmonisation ends up ensuring that the financial markets have the necessary fluidity to keep operating in the same way as they have up to now. The substantive issues that would have been addressed if the intention was, in fact, to curb and impose limits on financial speculation, remain untouched. In essence, despite some apparently correct measures, the conditions are being maintained to ensure the stability of financial operators and the continuation of the whole circuit that drains added value from the productive sectors and into financial capital. The costs involved in the movement of various financial products are being harmonised and reduced, creating an illusion of greater regulation and supervision which is, at root, false. There is, for example, no mention at all of tax havens, banking secrecy or countries with tax regimes that are ‘friendly’ to big finance, either in this or other legislative proposals."@en1
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