Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-23-Speech-4-215-000"
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"en.20110623.37.4-215-000"2
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"Madam President, I want to salute my friends in the Communist and Green Groups. They are right about one thing. If we adopted a tenth part of their policy we would be in serious trouble, but they have got one thing right – which is that these bail-outs are punishing the majority of people in order to reward some very wealthy individuals. If we want to rescue banks that are exposed in Greece, particularly French and German banks, it would be much cheaper just to give them the money directly rather than routing it scenically through Athens.
But I have to stand back and question the premise. Why, yet again, given the failure of the first round of bank bail-outs, are taxpayers being expected to come forward and rescue some very wealthy individuals from the consequences of their own error?
We in our generation look back at ancient régime Europe and we wonder how such a system could have existed. We say, how could it possibly have been constructed so that only the nobility had exemption from taxation? How could we have tolerated a system where only the little guys were paying taxes? But – you know what? – we are recreating exactly that system by shovelling around this public money in order to save some vested interests. So ‘hasta la victoria siempre’."@en1
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