Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-10-20-Speech-3-052"

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"Mr President, economic governance as it is being developed here focuses solely on savings and competition policy. As has just been mentioned by the honourable Member from Spain, the problem of Germany’s orientation towards exports has not been addressed at all. Yet this is clearly a central problem, both in the euro area and in the European Union as a whole. German competition policy is being conducted to the detriment of internal demand in Germany. This is not being discussed at all. Above all, however, it is also being conducted to the detriment of wages. It is a wage battle – a wage competition. This wage competition is exerting enormous pressure on our neighbouring European countries, on European trade unions and on European workers. Neither the Commission nor the Feio report have addressed this problem. Any economic governance worthy of the name must take corrective action in this area rather than remaining silent."@en1
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