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"Mr President, following this debate, I would like to make three quick points. Firstly, looking at the different opinions here in the House, we do not have the same opinion on the question of imbalances. There were differences which were quite clear and I think we have to be careful. In particular, I would like to address that to you, Mr Trichet and Mr Rehn, and ask you not to be blind in one eye, because the central problem, as we agree in principle, is that costs should grow according to the inflation target plus productivity. Some countries had cost increases which were too high, and it is good that you are acting. On the other hand, there are several countries which use tax policy as well as their wage-setting arrangements to ensure they fall below this threshold. If you do not act on those – and I know that some in the Ecofin do not agree with this approach – then we will be setting fire to the economic basis of the eurozone and that is very dangerous. I urge you not to be blind in one eye and I urge my colleagues likewise. Look at Greece and the stability programme, which was praised. I would like to stress that there is a major problem, and I refer to what I learnt during my visit to Greece last week. Most people in Greece feel that during the last 10 or 20 years, a lot of people became very rich under circumstances which were not just. If you praise the Irish efforts, you cannot compare it to the situation in Greece. People in Greece feel they should not suffer because of things they have not caused. Therefore, I urge you, Mr Rehn, also to put pressure on the Greek Government to get serious on illegitimate wealth which has been accumulated in the past. Otherwise, the programme will be not accepted and it will also fail for economic reasons. We have to make sure that the programme is socially just – and it is not yet socially just."@en1

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