Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-05-20-Speech-4-180"
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"en.20100520.16.4-180"2
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"I agree with the report: current public debt and deficit levels will be difficult for future generations to bear, but are also a major problem today. However, I disagree with the proposed solutions. I do not believe that a report which omits the reason for the recent explosion of this debt and deficit can be taken seriously. It should be noted instead that it is the fact that the private debts of banks and the financial sector have been taken on by Member States, and therefore by the citizens and taxpayers of Europe, which has caused these deficits to increase to such an extent. We must hammer home the fact that the EU and the Eurogroup are now only taking action in order to please those markets that you believe to be rational and efficient, but which panic when the deficit becomes too great, and panic once again because they fear that the measures taken to reduce it may hinder a semblance of economic recovery. They have gorged themselves by charging a high price for a risk taken on the Greek debt that you have just done away with by adopting the latest measures. They have won on all fronts, increasing their own profits even further. Never mind the consequences for the real economy and the people."@en1
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