Local view for "http://purl.org/linkedpolitics/eu/plenary/2015-03-10-Speech-2-084-000"
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"en.20150310.5.2-084-000"2
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"Mr President, there is an English poet, by the name of Joseph Addison, who once said ‘The fear of Death often proves Mortal, and sets People on Methods to save their Lives, which infallibly destroy them’. Well, fear stalks this Chamber – fear that Greece may leave and bring the euro down, and fear that low growth across the economy may make people see that the European Union is a failure after all and that it is a bad idea whose time has passed.
So this fear has set the EU on a system of creating something that I believe will eventually help to destroy it, namely the Long-term Investment Fund strategy. There is – seemingly – a belief in this Chamber that central bankers can steer economics – and do so as well – hence the reason that the ECB is allowing quantitative easing, which will eventually make people poorer and also ensure that you pay more in the future for what you are paying now. When we look at our phones, most of us will not say that governments should design or make phones. Our computers should not be designed by our own governments or parliamentarians, but here in this Chamber there seems to be an idea that parliamentarians and Commissioners can create pension funds and be private equity investors. That is what this particular product is all about. Let me tell you all that there are many talented people in the investment world who have failed, and you will fail once more yourselves."@en1
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