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If my hon. Friend is now envisaging the establishment of a federal Europe, will he not reflect that the Maastricht treaty does not take us in the direction of the checks and balances contained in the American federal constitution? It takes us in the opposite direction of an unelected legislative body—the Commission—and, in the case of foreign policy, a policy Commission that will be, in effect, imposing foreign policy on nation states that have fought for their own democratic accountability.
Jeremy Corbyn
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My hon. Friend is right in saying that the Bank of England has often operated against the interests of Labour Governments. That is due to the mandarins who run it. If the hon. Gentleman has such doubts about the running of a bank which theoretically is state-owned and state-controlled, what influence does he think will be possible in the case of an independent central bank dedicated to a course of Euro-monetarism?
Jeremy Corbyn
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Does the Secretary of State not think that there is a case for ensuring that there are permanent representatives of at least Latin America and Africa on the Security Council? Does he not think that consideration should be given of the removal of the power of veto of the permanent members of the Security Council in order to make the organisation more democratic and more reflective of the world's population as a whole?
Jeremy Corbyn
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The Social Security Act 1986 was one of the most aggressive pieces of legislation in the past seven years. It has helped to destroy the foundations of the welfare state, which was envisaged to provide decency and security through birth, life and death for all people, irrespective of their ability to pay. Now we see means testing writ large throughout the welfare state.
Jeremy Corbyn
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It seems that we are revisiting the whole argument about a European central bank. Many of us have the deepest misgivings about the establishment of such a bank, with no accountability to member states and an office life of eight years, in which it can do what it likes, provided that it supports the market economy throughout Europe, despite the social consequences. There is no time limit on the period of office of the political directors, and there is nothing about who they would be or where they would come from. But I ask the quite serious question: what on earth are these political directors to do, where do they come from, to whom are they answerable and how do we get rid of them if we do not like what they do?
Jeremy Corbyn
Quote of the day
Every word she writes is a lie, including 'and' and 'the'.
Mary McCarthy
Jeremy Corbyn
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Born:
May 26, 1949
(age 75)
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