Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-07-09-Speech-3-244"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20080709.27.3-244"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:spokenAs | |
| lpv:translated text |
".
We voted against this report because it reaffirms support for the work of the European Central Bank, makes no criticism of successive increases in the base rate, even though this has already reached 4.25%, much higher than the United States Federal Reserve base rate.
Moreover, the report ignores the fact that the bank’s activities are harming workers, the population in general and micro, small and medium-sized enterprises. It only serves the objectives of the major economic groups and finance capital, even when they cause problems for the more fragile and dependent economies, such as that of Portugal.
For example, in Portugal, where the level of debt has reached 114% of GDP, this increase, allied to the overvaluation of the euro, is another nail in the coffin of micro and SMEs, worsens the deficit in the balance of trade and increases the country's dependency. It will be more difficult to deal with unemployment, casualisation, low wages and the generalised increase in prices, considering that the level of debt of Portuguese families has now reached 129% of their disposable income.
We therefore reaffirm the need for a break with this right-wing policy and the false autonomy of the ECB, which only serves to hide the fact that it is at the service of big capital."@en1
|
Named graphs describing this resource:
The resource appears as object in 2 triples