Local view for "http://purl.org/linkedpolitics/eu/plenary/2002-07-03-Speech-3-117"
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"en.20020703.3.3-117"2
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"We are bound to vote against this report given the assertions it makes, specifically reaffirming the “overriding importance of the primary objective, that is, maintenance of price stability” regardless of growth and employment rates, defending the irrationality of the Stability Pact, calling for continued “wage moderation” and insisting on the old capitalist recipe that “the workers should pay for the crisis” when the gains of productivity transferred from salaries into profits have not contributed to more investment and more employment, but to the enriching of the usual small group.
The report ignores the current economic situation and once again calls for further liberalisations, privatisations, integration of capital markets and, obviously, more labour flexibility and considers the criticism of the ECB’s behaviour in relation to the Federal Reserve to be unfair, overlooking the fact that the deflationist policy pursued has contributed to unemployment, whilst the restrictive monetary policy has not allowed skilful use to be made of the period of economic growth in the second half of the 1990s. This criticism is shared not only by various internationally renowned economists, such as Solow, but also by the United Nations Economic Commission for Europe."@en1
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