Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-11-22-Speech-1-046"
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"en.20101122.13.1-046"2
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"Madam President, it would be good if this report by Mr Balz could be presented subject to a reservation, and that would be a reservation as regards memoirs. I think we might learn a lot more if you would present the chapter on the years 2008-2009 from your point of view, Mr Trichet. In the absence of such knowledge, we are working somewhat in the dark here, and there is reason to believe that there are many extraneous circumstances of which we are unaware at the present time. Nevertheless, you have stated that the longer-term financing measures have been extended once again, Mr Trichet. Perhaps that is a good thing. History will show us whether it was really such a good idea. We do not always have to point the finger straight away at Alan Greenspan.
There is just something that I am concerned about, and that is that our citizens are simply not being told what this liquidity aid is actually being used for, and the lack of transparency as regards the way that the Irish are being forced – in many people’s eyes – under this umbrella. We know that Ireland has already received EUR 130 billion, EUR 35 billion of which has gone to the subsidiary of a German business – Hyporealestate. Just why is so much pressure being piled on at present? Why are we not in a position to say who the real creditors of the Irish banks are? Is it my life assurance with Allianz? Is it, in fact, the German banks, as is always being claimed? If that is the case, are we not having the wrong debate here? In which case, we should be honest enough to tell our citizens that it is they that we are bailing out, that it may be your own money that you made the mistake of investing in Ireland, in a banking world built on false foundations. This, of course, also raises the question of whether every Irish bank is really essential to the system. Why do we not have the courage to accept that one or other will fail? The Leman Brothers solution cannot always be the answer. We need the risks to be distributed fairly, because a large proportion of the earlier gains undoubtedly went into the private sector."@en1
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