Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-10-08-Speech-3-082"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2008-10-08"^^xsd:date2
dcterms:Is Part Of	lp_eu:Preparation of the European Council, including the situation of the global financial system (continuation of debate)2
dcterms:Language	"fi"^^xsd:language2
lpv:document identification number	"en.20081008.14.3-082"2
lpv:hasSubsequent	lp_eu:2008-10-08-Speech-3-0832
lpv:speaker	lp:Esko Seppänen2
lpv:spokenAs	substitute; CONT (2007-01-31--2009-07-13)3 vice-chair; Delegation to the EU-Russia Parliamentary Cooperation Committee (2004-09-21--2009-07-13)3 unknown; Vasemmistoliitto (2004-07-20--2009-07-13)3 substitute; Delegation to the EU-Kazakhstan, EU-Kyrgyzstan and EU-Uzbekistan Parliamentary Cooperation Committees, and for relations with Tajikistan, Turkmenistan and Mongolia (2004-09-15--2009-07-13)3 member_of_the_bureau; EUL/NGL (2004-07-20--2009-07-13)3 substitute; ITRE (2007-01-31--2009-07-13)3 member; BUDG (2007-01-31--2009-07-13)3
lpv:translated text	"The United States of America has gone down with mad money disease. Its symptoms are bank collapses, the socialisation of banks and insurance companies, and a junk bank used for the socialisation of debts and as a landfill site for bank waste. The crisis shows that capital needs the state for purposes other than just going to war in far-off foreign lands: in America’s case, Iraq and Afghanistan. The good side to the crisis, caused as it was by cheap ‘funny’ money, is that the United States cannot now afford new wars. It looks bad when a superpower is flummoxed because its esteem in the eyes of others slumps. That is how it has gone for the United States: many are of the opinion that, as a superpower, it has suffered the fate of the Soviet Union. All of America’s political and economic resources will be needed to extinguish the fire at the bank that was ignited with cheap money, debt and speculation. This is no longer just a matter of the economy, however: the giant that stood on a pile of securities has seen its authority collapse. Preening America, winner of an ideological struggle, is no longer credible in the victor’s role."@en1

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