Text tabled : A7-0059/2010

  João Ferreira (GUE/NGL), in writing. – (PT) Throughout his years as Governor of the Bank of Portugal, Vítor Constâncio has been a faithful follower of the guidelines imposed on Member States of the European Union by the European Central Bank. These guidelines have been profoundly damaging to national interests and sovereignty, and constitute an attack on the rights of the workers and people of Portugal.

It is well known that he has constantly called for wage moderation in a country in which low wages abound and which has jarring social inequalities. These are also the result of the unfair distribution of incomes, which punishes the workers in the interests of capital. It is also well known that he has failed in the functions of supervision of the banking system that had been assigned to him.

We will continue to firmly and vehemently oppose arguments for the irrational criteria of the Stability Pact, and for exchange policy guidelines and other macro-economic guidelines, as well as the devaluing of production and labour – in which Vítor Constâncio has played a central role – as we have always done.