Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-25-Speech-4-331"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2010-03-25"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"pt"^^xsd:language2
lpv:document identification number	"en.20100325.34.4-331"2
lpv:hasSubsequent	lp_eu:2010-03-25-Speech-4-9802
lpv:speaker	lp:Ilda Figueiredo2
lpv:spokenAs	vice-chair; Delegation for relations with the countries of Central America (2009-09-16--2012-01-17)3 unknown; Coligação Democrática Unitária (PCP-PEV) (2009-07-14--2012-01-17)3 vice-chair; EUL/NGL (2009-07-14--2012-01-17)3 vice-chair; EMPL (2009-07-16--2012-01-17)3 member; FEMM (2009-07-16--2012-01-17)3 substitute; ITRE (2009-07-16--2012-01-17)3 member; Delegation to the Euro-Latin American Parliamentary Assembly (2009-09-16--2012-01-17)3 substitute; Delegation for relations with the Mercosur countries (2009-09-16--2012-01-17)3
lpv:translated text	"As we know, the decisions of the European Central Bank (ECB) are partly to blame for the crisis that we are experiencing. It is interesting to note that the report itself does not hold back from making some criticisms of the ECB’s actions. This is, of course, the case when it notes that the ECB’s economic projections, like those of the International Monetary Fund and other international institutions, failed to predict the severity of the downturn in 2008. It also does so when it ‘notes that the ECB’s interest rate cuts were less radical than those made by other central banks, including the US Federal Reserve and the Bank of England in the UK, and compared with what many economic observers expected at the time’. However, the report continues to defend the ECB and its guidelines, even making major contradictions. That is why we voted against it. Nonetheless, there are other aspects that merit reflection, specifically when it expresses its ‘disappointment that the extra liquidity injected by the ECB did not sufficiently ease the credit crunch faced by industry, particularly small and medium-sized businesses, and was instead used by some banks to improve their margins and cover losses’."@en1

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