Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-10-26-Speech-4-180"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2006-10-26"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"de"^^xsd:language2
lpv:document identification number	"en.20061026.22.4-180"2
lpv:hasSubsequent	lp_eu:2006-10-26-Speech-4-1812
lpv:speaker	lp:Sahra Wagenknecht2
lpv:spokenAs	member; EUL/NGL (2004-07-20--2009-07-13)3 member; Delegation for relations with the countries of the Andean Community (2004-09-15--2007-03-13)3 member; ECON (2004-07-21--2007-01-14)3 substitute; Delegation for relations with Mercosur (2004-09-15--2007-03-13)3 unknown; Linkspartei.PDS (2006-10-05--2007-10-08)3 substitute; ITRE (2004-07-21--2007-01-14)3
lpv:translated text	". Time and time again, the ECB argues that price stability is its contribution to job creation and growth. In the euro zone, price stability is a reality; in quite a few sectors, indeed, aggregate rates of price increase below two per cent are opening the door to deflation, but as soon as there is the slightest indication of economic recovery in the euro zone, the only way the ECB, with its blind fixation on price stability, knows how to respond is by raising interest rates. It does that despite the absence of even the least sign of inflationary tendencies, even though there is no change in the prevalent mass unemployment and wages are rising more slowly than productivity, which, in the long term, cannot do other than lead to serious imbalances in the national economies. It does it even though even the capital markets, with their extremely low long-term interest rates, are indicating that they expect the future to bring neither a substantial increase in prices, nor sustainable economic recovery, and a look across the Atlantic reveals that they have little reason to do so. As originally drafted, this report was courageous enough to take critical lines. Lamentably, though, little remains of them following the vote in the Committee on Economic and Monetary Affairs, although words of criticism would seem necessary to say the least. What we really need in Europe is a different monetary policy, one that is guided, not by monetarist dogma, but by social responsibility; one that represents the interests of the vast majority of Europeans rather than only those of the financial sharks and of the European financial elite."@en1

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