Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-06-Speech-3-134-000"

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"en.20110706.3.3-134-000"2
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"Mr President, the report correctly states that one of the causes of the financial and economic crisis was the banks and financial speculators. It is necessary to exercise more stringent control over financial transactions and bank supervision. The ruling elites, including back home in Latvia, view the way out of the crisis in increasing taxes and reducing the level of social protection to the detriment of ordinary people in the Member States, while the parties to blame for the crisis – banks and speculators – continue to receive income from speculative transactions, which ought to be charged to higher rates of progressive tax. The European social model must be supported on social guarantee principles, and not allow the reduction or even elimination of salaries, pensions, and social support payments, or the sacking of employees."@en1
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