Local view for "http://purl.org/linkedpolitics/eu/plenary/2000-07-06-Speech-4-343"
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"en.20000706.13.4-343"2
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"The report we are now considering attempts to defend the monetarist policies of the European Central Bank, particularly on price stability, whilst forgetting that we do not currently have a continually falling interest rate. On the contrary, we are in a phase of constant increases, which have very serious repercussions on the incomes of less well-off families who use bank loans to buy their own homes, which is what happens in Portugal.
The rapporteur, who is delighted with the conduct of the ECB, considers that what is crucial is strict observation of the nominal convergence criteria in the Stability Pact, for applicant countries too, together with the policies linked with these criteria. These policies include wage moderation, the flexibility of the labour market and of social security systems and speeding up the liberalisation of the services and capital sectors. The rapporteur even goes so far as to criticise euro area countries that have reduced working hours since, as he sees it, this attitude contributes to “rendering labour markets more rigid instead of more flexible”.
The rapporteur therefore puts himself in the position of defending the most refined form of capitalist neo-liberalism, at which we must protest most vehemently by voting against the report."@en1
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