Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-25-Speech-2-506-000"
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"en.20111025.29.2-506-000"2
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"Madam President, ladies and gentlemen, the wave of redundancies that is affecting workers across Europe must lead us to reflect on the role that we, as political representatives, must play in the face of multinational firms that are acting without any social ethics, proceeding with shareholder-driven redundancies and relocating their operations in order to cut costs, increase their shareholders’ profits and please the rating agencies, with no regard whatsoever for social and environmental standards.
In its resolution of 29 September on the future of the European Globalisation Adjustment Fund (EGF), Parliament clearly expressed its desire to support, first and foremost, the workers adversely affected by restructuring. We called on the Commission to ensure consistency between EGF interventions and the European Union’s industrial policy, notably through the use of the structural funds. We also called for improvements in the future EGF Regulation to ensure that the fund does not generate moral hazard effects for multinational companies, as demonstrated today by the ArcelorMittal and Nokia cases.
Commissioner, we can no longer continue to look separately at the structural funds and the Globalisation Adjustment Fund without taking into account the restructuring strategies of companies that benefit from them and without examining the cost-benefit ratio of a policy – and I shall say it again clearly – that benefits European workers."@en1
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