Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-02-19-Speech-2-256"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2008-02-19"^^xsd:date2
dcterms:Is Part Of	lp_eu:Lisbon Strategy - Broad Economic Policy Guidelines for 2008-2010 (debate)2
dcterms:Language	"de"^^xsd:language2
lpv:document identification number	"en.20080219.30.2-256"2
lpv:hasSubsequent	lp_eu:2008-02-19-Speech-2-2572
lpv:speaker	lp:Karsten Friedrich Hoppenstedt2
lpv:spokenAs	member; Delegation for relations with the People's Republic of China (2007-03-14--2009-07-13)3,3 member; ECON (2007-01-31--2009-07-13)3,3 substitute; ENVI (2007-01-31--2009-07-13)3,3 member; EPP-ED (2004-07-20--2009-07-13)3,3 member; Delegation to the Euro-Latin American Parliamentary Assembly (2007-05-23--2009-07-13)3,3 unknown; Christlich Demokratische Union Deutschlands (2004-07-20--2009-07-13)3,3 substitute; Delegation for relations with the countries of the Andean Community (2007-03-14--2009-07-13)3,3
lpv:translated text	"Mr President, money simply is a part of the development of Europe. Let me, therefore, come back to the financial situation, to the financial markets and the examples of turbulence we have known so far. We all know about the situation of many banks in Europe – not to mention US banks – and how much the European Central Bank had to inject in order to keep the financial markets functioning. That is why any adjustment of the basic approach until 2010 naturally also involves the necessary increased cooperation with all global market players in order to give our European financial economy more protection against further attacks from the outside, together with better rules on rating and adjusted supervision and great transparency, and restoring the banks’ trust among themselves and the trust of the investors. There is a reason why we need more intensive dialogue with other global market players, especially the USA. Over the last seven years, the US economy has grown in value by 4.2 billion, while total credits, however, have grown by 21.3 billion. That means a debt level that is 350% too high in relation to GDP. Unfortunately, the US intends to continue with the monetary policy that has led to that huge over-indebtedness. The US is aggressively lowering its base rates, which means money is being pumped into the financial institutions. That results in growing currency devaluation, together with a fall in household purchasing power and a stagnation that is difficult to control and may have a considerable impact on Europe. These monetary policy methods are largely to blame for the latest crisis. Europe and all global market players must fight the next wave of crises promptly and together, to ensure we are not overtaken by an absolute tsunami and that many of the endeavours to achieve the Lisbon objectives are not in vain."@en1

Named graphs describing this resource:

The resource appears as object in 2 triples

Context graph