Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-11-17-Speech-1-077"

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"en.20081117.21.1-077"2
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"Mr President, the proposal by the European Commission on the first ten years of Economic and Monetary Union contains a series of contradictions. It aims to close a cycle of market deregulation, while in the real economy the prices of goods and services are at an all-time high and unemployment in the Euro Zone is forecast to reach 8.6% in 2009 and 9% in 2010. Developments confirm that there has been no narrowing whatsoever of the gap between rich and poor. The global economic and financial crisis is directly linked to limitations on the state and the policy of deregulation. Furthermore, while we have confirmation that the distribution of wealth has been uneven, the Commission is advocating in favour of the continuing application and levelling effect of the Stability and Growth Pact and a stronger role for the International Monetary Fund. This approach rides roughshod over the peculiarities of the economies of the individual Member States and clashes with the philosophy of different rates of growth in each Member State."@en1
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