Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-11-16-Speech-3-367-000"

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"en.20111116.22.3-367-000"2
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"Madam President, I believe there is cause for concern with regard to this summit. The role of the US in the global economy is far from agreeable. While we here in Europe have learnt from the debt crisis to be responsible with our public finances, we see the American Central Bank continuing to open the floodgates and flood the American market with dollars. Easy money was one of the causes of the crisis in 2008. The whole affair is, unfortunately, continuing along the same path, just like the US public debt situation. The risk of inflation must not be ignored. I also think it is regrettable that the US has still not managed to carry out any permanent reform of its Medicare, Medicaid and social security systems. In this context ahead of an election year in 2012, a weaker dollar is, of course, not what the US wants. A revaluation would absolutely not fit in with President Obama’s jobs programme. The advice to Europeans to please stabilise the euro should also be seen against this background. After all, if the euro loses value against the dollar, US exports will have a harder time on the global markets. At the same time, there is a rise in protectionist efforts in the US – this is also a trend that we absolutely must counter, and therefore it is good that the Commissioner for Trade has spoken here today. I consider this to be extremely important. We Europeans and Americans still have the most significant trade and investment relations with one another. A second point that is important for my group is the fact that, with Google, eBay, Apple and Amazon, so-called information empires have arisen. With regard to the handing of the data, it is important for us, together with the US, to find a new approach for these private players too, and I believe that this is of great interest to our citizens. This matter must be addressed seriously. I forgot to mention Facebook, which should clearly also be included here."@en1
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