Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-10-08-Speech-3-051"
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"en.20081008.14.3-051"2
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"Madam President, citizens are currently looking to Europe to provide protection and stability and to show unity. A strong Europe is more important than ever at this time. Everyone agrees that intervention was needed, and it is good that the action has been swift. This was unavoidable.
There are a number of developments that I nevertheless find worrying, and I also sense a degree of ideology behind some of the action that has been taken. Some people in this House have already been celebrating the death of capitalism. To be frank, however, politicians are not bankers. Emergency measures are one thing, but I have also noticed that some operations amount to the common-or-garden nationalisation of banks. To be frank, there are a number of bankers who are clearly no longer to be trusted and to whom we cannot entrust our savings. Ask yourselves, however, whether you would entrust your savings to politicians acting as bankers. To Mr Schulz, for example. I for one would not.
The crisis must not be seized upon to circumvent, weaken or even abolish the rules. I find the call for flexible application of competition policy or the Stability and Growth Pact extremely worrying. These are the very rules that have made Europe robust.
I have a specific question for the Commission – and, incidentally, I note with regret that Mr Barroso evidently does not consider the debate absorbing enough to stay until the end. This afternoon the Dutch Minister for Finance stated in the debate in the lower house of the Dutch Parliament that the purchase of Fortis and ABN-AMRO – not only the bank, but also the parts not of systemic relevance, such as insurance – had not been declared as State aid. Therefore, I should like to know how the Commission intends to deal with this kind of case in the coming period. After all, Commissioner Kroes stated last Monday – and I totally agree – that the competition rules and the Stability and Growth Pact continue to apply in full. How do we deal with this kind of case? What will happen if it is subsequently found that there has been an infringement of the rules on State aid?"@en1
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