Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-09-13-Speech-4-315-500"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20120913.29.4-315-500"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:spokenAs | |
| lpv:translated text |
"It does not worry the majority of Parliament that the supervision of the banking sector should move from national authorities to the European Central Bank (ECB). Neither does it worry them that this sector, which is fundamental for financing countries’ economies, stops being under the direct responsibility of the Member States and that it becomes the responsibility of the ECB to intervene in this area. The ECB is no more than an institution which – without any political or democratic control – has fulfilled the triple role of lowering the refinancing costs of big capital – promoting Member States’ dependence on the funding – vis-à-vis big business in Europe, and promoting labour exploitation by covering losses in purchasing power with credit. Countries like Portugal, which do not have their own currency and cannot autonomously intervene in monetary policy, also stop being able to regulate the financial sector. What economies like that of Portugal need in order to grow is the nationalisation of the banking sector, putting it at the service of the national economy. Portugal needs a public banking system which finances an increase in national production and a programme of reindustrialisation, a fundamental tool for creating employment with rights, increasing salaries, reducing dependence on other countries, and thereby resolving the problems of deficit and public debt."@en1
|
Named graphs describing this resource:
The resource appears as object in 2 triples