Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-03-11-Speech-3-294"
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"en.20090311.30.3-294"2
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The Group of the Greens/European Free Alliance takes the view that what we are experiencing now is a culmination of three crises that are interrelated: an economic crisis, an environmental one and a social one. This is why the Verts/ALE Group is opposed to promoting a ‘European recovery plan’ in the light of the imminent European Spring Summit, whose only mission is to stimulate the old
model back into life.
Pumping enormous sums into this model carries the serious risk of deepening the environmental and social crises. It is counterproductive simply to increase demand in order to bring production back on song. This is exactly what the Ferreira report proposes, which is why I voted against it.
The economic recovery plan must make new financing instruments possible and, at the same time, by means of regulations, inject stability and reliability into the system. The incentive to go for short-term profit by means of a selection of bonuses must be removed and replaced by rules for so-called lever funds and private equity funds. Transparency, open bookkeeping and supervision must render tax havens impossible. By means of a precise description of tasks, banks can once again become servants of the real economy, where the European Central Bank can act as a guard dog."@en1
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