Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-03-12-Speech-4-045"

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"Mr President, I think it is obvious that we cannot ignore the context in which we are discussing this agreement. In Europe the current crisis is above all affecting the sectors more oriented towards exports, while in Mexico it is very specifically affecting those actors that suffer most from the consequences of the economic slowdown. An agreement of this kind should be beneficial to both parties, but the experience we have at the moment is that that is not always the case. For Europe it is very beneficial. I think that is obvious, and we can see it clearly when we look at the results of the last eight years, during which the trade balance has been strongly in the EU’s favour. There has been an 80% rise in the trade deficit, which means that Mexico is now highly dependent on Europe. There are other risks, however, which we must not forget. The fact is that most of the investments that the EU has made will later have positive consequences for Europe as well. I mean that many of the exports that are made are basically in-house, within companies. I am not saying that that is necessarily a bad thing, but I am saying that we must be careful and remain very aware that it may have highly negative consequences. Above all, however, the most worrying factor is the liberalising obsession shown by certain governments, which is embedded in certain attitudes in this context. Banking, for example, is one of the most important sectors and one that has proved to be essential in tackling this crisis but, in Mexico, 90% of this sector is currently in foreign hands, with 50% of that in European hands. I do not think that that is the best way to approach an agreement of this kind. An agreement should correct, or at least not fuel, some of these risks, and that is what we propose with some of our amendments."@en1
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