Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-24-Speech-4-182-000"

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"en.20120524.19.4-182-000"2
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"EU macro-financial assistance (MFA) was created in 1990 to provide resources to third countries experiencing temporary balance of payments difficulties. This assistance may be granted in the form of grants or loans, or a combination of the two. The EU’s assistance programme is necessarily associated with financial assistance provided by the IMF, at around 10% of the IMF amount. We voted against this report because MFA is tied to the IMF criteria; the same criteria that are condemning countries to poverty through the financial discipline, structural adjustments, and economic and social conditions that it demands. Financial assistance is predominantly aimed at funding the recommendations made by the IMF and its policy of structural adjustment; that is, its insistence on the very same neoliberal policies that brought about the economic and financial crisis, and are now exacerbating it. Policies of economic cooperation are needed, rather than blackmailing countries in economic difficulties."@en1

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