Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-05-06-Speech-3-077"
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"en.20090506.3.3-077"2
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"Mr President, today’s economic crisis is a crisis of over-production and over-accumulation of capital. It is, as everyone now admits, a crisis of the capitalist system itself. Efforts to present this crisis as a financial crisis, as a liquidity crisis, are being made in order to mislead the workers and to avoid acknowledging the real causes, which lead to increased unemployment, reduced incomes, flexible labour relations and the all-out attack on them.
The measures being taken to supervise accounting standards with controls on lines of credit and own funds, not only fail to limit the unaccountability of the banks; in essence they are measures which the banks themselves are seeking in order to safeguard that unaccountability beneath superficial supervision and control, supervision which, instead of protecting the interests of small depositors who have been and continue to be at risk from the economic crisis, will safeguard the conditions of competition of the banks and will allow new tools to be used to increase their profits.
The reserve which the banks demonstrated even to their cofinancing by the state, in return for even minimal controls, is typical of their stand, a stand of unaccountability which, in the jungle of the market, again results in increased profits and prices, while the workers are again being called upon to pay the costs of the crisis. The workers are not being deceived or disorientated by the decisions of the European Union to end the crisis. They know that these decisions put the entire weight of the crisis onto their shoulders and seek to safeguard even greater profits for capital."@en1
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