Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-03-11-Speech-3-033"
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"en.20090311.3.3-033"2
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"Mr President, ladies and gentlemen, the decisive question in relation to all the economic recovery plans which are being put in place throughout Europe is, of course: who will receive the money? Will more blank cheques be drawn up for the banks, although in the long run, it would be significantly cheaper for the taxpayer if they were nationalised straight away? Should we relieve the burden on large companies and high wage earners although they have benefited from tax concessions across the whole of Europe for years? The more money is wasted on things like this, the more likely it is that the programmes will fail and that the European economy will find itself in a very dangerous downward spiral.
The long-term policy of privatisation, deregulation and liberalisation has resulted in an increasing concentration of wealth among the top ten thousand. In addition, it was this policy which was responsible for the crisis that we find ourselves in today. Anyone who believes that the crisis can be overcome by continuing this policy with just a few modifications has completely failed to understand the situation. What we need is exactly the opposite. Instead of buying up banks’ toxic assets, we should be spending taxes on renovating schools and hospitals and on greening the European economy. If public funds are given to private companies, the rule of no taxes without guaranteed jobs and, in particular, no taxes without public ownership rights must apply, so that the state and, above all, citizens can benefit from any future earnings. The best economic recovery plan of all would be a radical redistribution of wealth and assets from top to bottom. The low pay sector in Europe must be reduced in size rather than continually being fostered. We need higher minimum wages and better social services in Europe. We need tax rates which ensure that the millionaires and profiteers from the old finance market party take responsibility for the huge losses which have been incurred, not the majority of citizens who have not benefited at all from the financial boom. I believe that social justice is now the only sensible economic policy. It is the only way of bringing this disastrous crisis to an end."@en1
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