Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-07-07-Speech-3-869"
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"en.20100707.23.3-869"2
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"Since the crisis erupted, we have been trying to find an effective solution to the current economic situation in the EU. We are debating new instruments for more effective supervision of financial markets and we are establishing a European instrument for financial stability. Are we, at the same time, aware of the risk that these centralised instruments will further restrict the principle of subsidiarity? There has always been a tendency here to prescribe to Member States what they should do. What is different today is that, under the heading of solving the negative effects of the crisis, pressure is being increased on Member States to agree to across-the-board solutions. Those who have reservations can sometimes be seen as saboteurs, and their arguments thus lose weight. However, what the well-known businessman Tomáš Baťa said about the economic crisis in the 1930s still holds true today: ‘That which we have become accustomed to calling an economic crisis is another name for moral poverty. Moral poverty is the cause and economic collapse is the result. In our country, there are many people who think that the economic collapse can be cured by money. I fear the consequences of such an error.’"@en1
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