Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-11-17-Speech-1-079"
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"en.20081117.21.1-079"2
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"Mr President, on the occasion of the 10th anniversary of economic and monetary union, there is really very little to celebrate. We are desperately trying to use a variety of rescue packages to prevent a dam bursting in our financial system, and all we are managing to do is patch up the breaches inadequately. The banks have pocketed billions in government money, whilst at the same time distributing bonuses and profits, and the average citizen has been made a fool several times over: his tax money has ended up on the banks’ roulette tables, and in return he is threatened with unemployment and possibly even losses on his savings and pension fund.
In the middle of this dilemma, voices are now being raised saying that we finally have to do something to ensure that European companies do not end up in the hands of non-European, for example Chinese, owners. This sell-off of Europe started years ago, with cross-border leasing and other such machinations. What is more, the EMU is in a certain amount of trouble in view of Greece’s spiralling debt and Italy’s carelessness after joining the Euroclub.
We therefore need to ensure that mistakes made in connection with the euro are not repeated by new members, and that no more risky financial games can be played with public money, in other words with the people’s money. Not only do we need strict EU-wide monitoring of dubious financial constructs, but we also need to require a solidarity contribution from those who have profited from speculation. Above all, the EU must, in principle, renounce completely untrammelled capitalism, and instead protect its citizens from unbridled greed and the negative effects of uncontrolled globalisation."@en1
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