Local view for "http://purl.org/linkedpolitics/eu/plenary/2016-01-19-Speech-2-277-000"
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"Mr President, according to the IMF, the share of world GDP taken up by the 28 members of the EU fell from 30% in 1980 to 17% in 2015. What accounts for that extraordinary shrinkage? It will not do to say that it is just developing countries catching up. You do not have any similar shrinkage or any equivalent one in North America or Australia or other advanced economies. I think we all know what the problem is, it is the over-regulation. I am not just talking about job-destroying directives like the REACH directive, the AIFMD or the ham-fisted attempts at tax harmonisation and so on, I am talking about the institutionalised corporate lobbying which is based around raising barriers to entry and setting the rules in a way that favour the mega-banks and the multinational corporations and squeeze out their smaller competitors, thereby driving many wealth creators and entrepreneurs into exile if they want to succeed. As long as this system remains, the European Union economically is fated to continue its genteel decline."@en1
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