Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-11-22-Speech-1-058"
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"en.20101122.13.1-058"2
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"Madam President, I would like to put a question to Mr Trichet. As President of the European Central Bank, why have you and the European Commission utterly capitulated to the speculators and assorted sharks on the international financial markets? You allowed them to engineer a panic in the markets over the Irish crisis – a panic designed to get you to intervene to guarantee the bond holders the billions that they gambled in bad debts. Because they threatened you that they would attack Portugal and Spain next, you and Commissioner Rehn utterly capitulated to a market dictatorship that is unelected, faceless and unaccountable.
Can I ask you to justify this? Private speculators and bondholders gamble tens of billions in private deals with private developers and private bankers in Ireland for private profit, and when the gamble fails, you support the pathetic government in Ireland to saddle working people, pensioners and the poor with the cost of this gamble. Now you have sent in the IMF as the shock troops for neoliberal capitalism to make the Irish people pay.
Morally, and in every other way, they should not pay and they must resist this disastrous attack on their services, living standards and democracy."@en1
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