madam president the global financial stability report of the imf estimates that the financial crisis will cost usd four billion
this is an estimate that may rise
this crisis has been brought about as we all know by a kind of casino capitalism crony capitalism and a financial services sector that has been subject to no regulation or to light-touch regulation as it is sometimes politely referred to
the fall-out of all of this for workers and families across europe has been nothing short of catastrophic
i have been struck in the debate and in the reports that have been produced by the very polite way in which we are addressing this scandal
i am struck by the fact that the liberal and christian democrat groups are concerned at over-prescription or that protectionism may be introduced through the back door
the fact is that the eu response to the financial crisis has been sluggish and minimalist
the fact is that we do require a protectionism and those that must be protected are workers and the real economy
we have yet to have a debate on the issue of jobs although that is what matters for citizens and this institution remains wedded to a system that has failed
let us acknowledge that and be radical and brave
