Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-07-04-Speech-3-224-000"
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"en.20120704.25.3-224-000"2
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"Mr President, last week the Irish Taoiseach arrived home from the summit proclaiming a tremendous victory for the Irish people. The Tánaiste Eamon Gilmore said that the deal lifts the bank debt burden from Irish taxpayers. They were both very long on rhetoric and very short on detail, and when you read the detail it is not very enlightening. There is one sentence dealing with Ireland in the statement, which simply says that the Euro Group will examine the situation of the Irish financial sector.
It is as clear as mud. The summit has not provided any solution for the crisis. It does not deal with the unsustainable debt facing the Irish people, the Greek people, the Portuguese, Spanish, Italian people, and it does not tackle the collapse of private-sector investment that has taken place across Europe of EUR 300 billion in the course of the crisis. At the same time, the profits are going up and the richest corporations are hoarding EUR 3 trillion in liquid assets.
Radical socialist measures are needed to deal with the crisis. That means repudiating the debt. It means a capital tax on those uninvested profits, public investment to create jobs and, crucially, taking the key sections of the economy into democratic public ownership in order to be able to plan a way out of this crisis and redevelop the economies in a sustainable way."@en1
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