Local view for "http://purl.org/linkedpolitics/eu/plenary/2003-09-23-Speech-2-101"

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"en.20030923.4.2-101"2
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". We have voted against the appointment of Jean-Claude Trichet as president of the European Central Bank, because for fifteen years he has embodied the doctrine known as ‘competitive disinflation’, which has inspired the neoliberal policies that have been implemented in our countries. It is under his influence that salaries were frozen in order to allow an increasing share of the wealth generated to be channelled into financial profit. This policy has stifled growth and stimulated the rise in mass unemployment. We do not, therefore, want to see this disastrous dogmatism transferred to the European level. We are not making this an issue of personality, however: we would probably vote against any other candidate, because it is the concept of the European Central Bank itself that we dispute on two key points. An institution of this nature should not be given a needlessly rigid target of 2% for inflation, which blindly prioritises finance over employment. The ECB should also be placed under genuine democratic control that goes further than the caricature of democracy that consists, as it does today, of voting for full powers to be given to a man over whom we will henceforth have no control whatsoever."@en1

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