Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-24-Speech-3-314"
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"en.20100324.21.3-314"2
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"The biggest financial and economic crisis since the 1930s has, as we know, not only hit Europe hard. The developing countries are suffering particularly badly from the effects of the crisis, and they are least able to do anything about it. Irresponsible speculation, greed for quick profits which are completely unrelated to the real economy, particularly in the Anglo-Saxon countries, and a financial system that is coming apart at the seams have brought the world to the brink of a financial abyss.
Another cause of the crisis is a globalisation concept that has made complete deregulation its highest priority. The countries of Europe are getting themselves ever deeper into debt in order to restart their economies. However, in many cases, it is not possible for developing countries to do this because of their poor financial situation. Therefore, they must be given the opportunity to protect their own national economies more effectively against imported goods which are sold at dumping prices and which destroy local markets and local people’s livelihoods.
We must give the developing countries the chance to emerge from the crisis under their own steam. Traditional development aid can probably be considered to have largely failed in its purpose. Ultimately, we have to tackle the root of the problem and impose strict regulations on the financial markets, prohibit speculative practices and quickly introduce a tax on financial transactions."@en1
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