Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-04-05-Speech-2-072-000"
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"en.20110405.3.2-072-000"2
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"Madam President, paragraph 5 of the report from the meeting says that policy measures will be presented to correct harmful and persistent macroeconomic imbalances and improve competitiveness, but in the introduction the talk is of promoting trade with third countries.
Imports from third countries, particularly the so-called emergent economies, are the greatest single cause of trade imbalances and the inability to compete. It would be impossible for developed economies to compete with manufactured imports from these countries without driving our wages down to their levels.
Indeed, this is hinted at in the section on page 16, on fostering competitiveness. It says ‘there will be assessments of wage and productivity developments and competitive adjustment needs’. Whatever does this mean?
It could only mean one thing. Wages must be adjusted downwards to make goods competitive with those of the emergent economies. While principles such as free trade are sacrosanct, the economic interests of European workers, it seems, are dispensable."@en1
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