Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-06-15-Speech-2-360"
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"en.20100615.24.2-360"2
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"UKIP do not support cancellation of debt on the basis that it is economically unsound on the following points: 1. A creditor nation is usually a debtor nation. For example, the UK is a significant donor of overseas aid. Yet the UK, and therefore its tax payers, are usually unwilling donors to aid recipients whilst debt mountains pile up for UK plc. 2. Debt cancellation impairs Third World debtor countries from raising further international finance. Therefore, it is not in the debtor nation’s interest. 3. Debt cancellation introduces moral hazard. What of Third World countries which meet debt obligations, of which there are many? 4. Cancellation implicitly condones fraud, corruption and the misappropriation of loans so endemic in African debtor countries. 5. Given the massive debt now of most international economies, who arbitrates where cancellation is appropriate? Further moral hazard."@en1
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"Gerard Batten, John Bufton, David Campbell Bannerman, Trevor Colman and Nigel Farage (EFD ),"1
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