Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-04-23-Speech-4-350"
Predicate | Value (sorted: default) |
---|---|
rdf:type | |
dcterms:Date | |
dcterms:Is Part Of | |
dcterms:Language | |
lpv:document identification number |
"en.20090423.62.4-350"2
|
lpv:hasSubsequent | |
lpv:speaker | |
lpv:spokenAs | |
lpv:translated text |
"Ladies and gentlemen, the decision of the G20 summit to pour billions of dollars into the IMF to combat the crisis is in my opinion counterproductive and harmful. There are three immediate reasons for this. Firstly, this commitment obliges creditor countries either to reach into their foreign exchange reserves or to go into debt.
Secondly, the commitment obliges even those states that have suffered lasting damage from incompetent IMF analyses to contribute to the fund. The Czech Republic, whose citizens I represent here, is an example of this. Although IMF forecasts for my country are completely divorced from reality, Czech citizens are contributing USD 1.4 billion to the fund.
Thirdly, the IMF will lend money to states under much softer rules than hitherto and it will not press for loans to be made conditional on the drafting of realistic measures to solve the economic problems of the borrower.
Ladies and gentlemen, I firmly believe that this will lead to a deformation of the international credit market at the expense of taxpayers."@en1
|
lpv:videoURI |
Named graphs describing this resource:
The resource appears as object in 2 triples