Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-10-08-Speech-3-072"
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"en.20081008.14.3-072"2
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"Mr President, a French Prime Minister, Édouard Balladur, issued a statement to the effect that complete freedom in the market was tantamount to the law of the jungle. He added that our society, democracy and institutions could not allow the jungle to take over. In spite of this, we now find ourselves in a jungle and are paying for the complete market freedom that used to reign in the United States.
If you consider that for each dollar of actual investment, the US banks were lending USD 32, as against the European banks’ paltry USD 12, you will understand the unaccountability that was rife in the US banking market. I now fear that neither Mr Paulson’s measures nor those of the US Government will bring the world out of this crisis. Considering the future, I think that strict rules need to be applied from now on."@en1
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