Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-25-Speech-4-323"
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"en.20100325.34.4-323"2
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"The most serious financial and economic crisis since the 1930s has hit Europe hard. However, the developing countries are also suffering heavily from its effects and they are largely powerless to do anything about it. Irresponsible speculation, greed for quick profits which are completely unrelated to the real economy 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 has largely failed in its purpose. Ultimately, we have to tackle the root of the problem and impose strict regulations on the financial markets, prevent speculative practices and quickly introduce a tax on financial transactions. The problem will certainly never be solved by the type of ‘world government’ proposed in the report, which will further disempower both people and states."@en1
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