Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-09-Speech-3-040-500"

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"The European economies have been held hostage to the near-criminal irresponsibility of the global financial sector, at a time when they were already in a downward trend, due in part to the changes in the distribution of wealth between the West and the emerging economies. We did not question the rules of the game, and we have allowed countries with high levels of social protection to be penalised. Where we were supposed to have social market economies, we now have a decline in living standards, more inequality and big business profits taking a larger share of national income to the detriment of wages. In this debate on the future of Europe, it is important to stand up for an alternative of hope for Europe, by underscoring the need for ‘more Europe’ and a coherent economic approach based on shared responsibility, growth and equality. From now on, budget management must be based on public spending restraint, productive investment and a fair taxation system, with the private sector contributing its fair share to the collective effort, and an all-out battle against evasion, fraud and tax havens. Social justice is now essential for Europe’s recovery."@en1

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