Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-10-08-Speech-3-209"

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"Madam President, today’s debate is definitely revealing some major points of agreement. One of them is that, in response to the crisis that we are experiencing, what we need is more regulation and multilateral regulation. If we focus on finance, it is really undesirable for the International Monetary Fund or the World Bank to play a leading role, even for the worst of enemies. They just make catastrophic predictions and show that they have less and less say in what happens, and that their influence and clout are in practice unpredictable. That being the case, as we have an instrument like the World Trade Organization, what we need to do is use it. Now more than ever we need regulation, but now more than ever we need a real economy, as opposed to a speculative financial economy. The trade in goods and services is the real economy, and economic growth for employment is based on the real economy. I therefore do not agree that the crisis means that it is going to be more difficult to conclude the Doha Round, quite the contrary: any responsible government should make a real effort to conclude this Round, whether it is from the North or the South, whether it is an underdeveloped country or a developed country. I think that we have a global market and we need visible hands. In this case, we need the hands of the World Trade Organization. We will have to improve the way that it operates, we will need to have more of a development model and less of a free trade model, certainly, and we will, of course, need to have political will. I assume that the Union, with the new Commissioner, will continue to have this."@en1

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