Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-10-26-Speech-4-017"
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"en.20061026.3.4-017"2
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"Mr President, Mr President of the European Central Bank, in this Chamber yesterday we were debating breast cancer, and no one appeared worried about the fight against inflation. That is to say that in situations of life and death our priorities change: we discover what is truly important.
However, is the fight against inflation really the most important thing in economic life? Beginning our resolution with a reference to the Father-like status of the independence of the Central Bank, followed by the Son-like status of price stability, in the hope that the Holy Spirit of prosperity will descend from the United States may be good for the independence of the Central Bank, but it is bad for the people. Personally, Mr Trichet, I fully appreciate that you are bound by monetary aggregates one, two and three and by the need for fine-tuning and for steering interest rates. Yet even in the country of Milton Friedman, Chile is left to practise a budgetary surplus of 1%, while the United States itself takes a budgetary overdose. I must therefore conclude by asking the real question: just because our German grandmother had inflationist diabetes in the 1920s, should that mean that, 80 years on, the whole of Europe should go on a sugar-free budgetary and monetary diet?"@en1
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