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Verbatim report of proceedings
Thursday, 29 March 2012 - Brussels OJ edition

Explanations of vote
MPphoto
 
 

Text tabled : A7-0223/2011

  Inês Cristina Zuber (GUE/NGL), in writing. (PT) Since 2008, we have been living through a crisis which is the expression of the current stage in capitalism’s development, characterised by a bloated financial sector resulting from the over-accumulation of capital whose expected profitability in the ‘real economy’ is declining, as the law of diminishing returns is borne out. In 2008, there were calls – supported by a number of Members of the European Parliament – for an end to financial derivatives, particularly over-the-counter derivatives, which are nothing more than the instruments also at the root of the speculation on foodstuffs, inseparable from the savage instability in the prices of these goods in 2007 and 2008, leading to the food crises. They are now moving drastically away from this position and this report is a perfect example of such back-pedalling. Naturally, we voted against.

 
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