Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-05-19-Speech-3-057"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2010-05-19"^^xsd:date2
dcterms:Is Part Of	lp_eu:Outcome of the summit of 7 May 2010 and the ECOFIN meeting - What is the political relevance of the EU 2020 strategy in the context of the current financial and economic crisis? - Consequences of the financial and economic crisis on the EU 2020 strategy and its governance - What is the relevance of the EU 2020 strategy in the framework of the current financial and economic crisis? (debate)2
dcterms:Language	"en"^^xsd:language2
lpv:document identification number	"en.20100519.3.3-057"2
lpv:hasSubsequent	lp_eu:2010-05-19-Speech-3-0582
lpv:speaker	lp:Gay Mitchell2
lpv:spoken text	"Mr President, I take it as a given that sovereign states must be held to account for commitments made and be required to meet agreed objectives, so I start from there. But it is also time to look around and see what other actions are contributing to the recent turmoil. In the 1930s, the gold standard and protectionism contributed to a deepening of the recession. By contrast, within the European Union, we have had solidarity and the institutional capacity, via the European Central Bank and the Commission, to learn from past mistakes. The work of the institutions has been impressive, given that there are 27 EU Member States, including 16 euro members. Furthermore, our institutions have cooperated with the US Federal Reserve, the Bank of England, the Japanese Central Bank and others. Despite this, the markets – the so-called markets – have, in effect, moved to take a negative view of almost every step taken. Now I am all for free markets; protectionism does not work. But are our markets free? The markets were well-massaged and influenced towards getting us into the crisis in the first place. Is there not by now a reasonable suspicion that powerful interests have a capacity to take on sovereign states and win, and that some – for whatever objectives – are using this power to advance their own agenda, using the markets for their own ends? A political agenda could include concerns that the euro could, in future, replace the dollar as the pricing currency for oil, for example; a business and economic interest agenda could include simply amassing greater power and wealth by destroying sovereign rights, including shared sovereign rights, within the European Union. It is time for political leaders to reflect on just what is happening. I repeat: Member States must be disciplined, including the Member State I come from. Of course that must happen. But we are putting all the emphasis on Member States and very little on what is behind some market activity. I would like to hear from the Presidency of the Council and from the Commissioner. What is being done to police this? When we did not police these people in the past, look where they led us. So do not have just one prong on your fork: it is time to have two prongs."@en1
lpv:spokenAs	substitute; Delegation for relations with the People's Republic of China (2009-09-16--2014-06-30)3 member; Special Committee on the Financial, Economic and Social Crisis (2009-10-08--2011-07-31)3 unknown; Fine Gael Party (2009-07-14--2014-06-30)3 member; DEVE (2009-07-16--2012-01-18)3 member_of_the_bureau; EPP (2009-07-14--2014-06-30)3 substitute; ECON (2009-07-16--2012-01-18)3 member; Delegation to the ACP-EU Joint Parliamentary Assembly (2009-09-16--2014-06-30)3
lpv:unclassifiedMetadata	"Gay Mitchell (PPE )."1
lpv:videoURI	<go to Events_and_structure europarl>2

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