Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-04-05-Speech-2-038-000"

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"en.20110405.3.2-038-000"2
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"Madam President, ladies and gentlemen, it is in fact not within the remit of the politicians to use taxpayers’ money to rescue the banks or to provide states with artificial liquidity. The real function of politics is to establish the legal framework to ensure that such a situation never arises. You now need to do the wrong thing because you have failed for decades to do the right thing. You now intend getting to the root of the problem, which is something that we welcome. However, as far as can be foreseen, it would seem that you are once again working at the wrong level with the wrong resources and within the wrong framework because you are trying to deal with the issue outside of the Treaties. Happily we have succeeded in bringing part of the dealings within the scope of the Community method, however there is still a lack of classic top-down policy. In this area above all others there is a need for every policy to be democratically debated, legitimised and checked. You are using the wrong instruments because you are taking the money from the taxpayer to support the banks and those who speculate with the banks and other financial products. You have still failed to take adequate steps to deal with those who have been profiting from this situation for a long time. This means that you are continuing to foster an imbalance in European society that weakens approval for this policy, rather than strengthening it. You are placing a burden on the public coffers and budgets on the one hand and protecting private assets on the other. This does nothing to resolve the actual problems, but simply remedies some of the symptoms."@en1
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