Former Prime Minister Alfred Sant told the European Parliament that the target of the next G7’s agenda should be a gated development of globalisation. Dr. Sant said that Globalisation needs to be managed. It should not happen all by itself as if it were a force of nature. ‘This should be an item on the G7’s agenda’ said Dr. Sant while the EP was discussing a Commission statement on the Preparation of the G7 Summit. The G7 convenes for its 41st summit in Bavaria Germany between 7-9 June. The Group will meet for the second successive year without Russia, whose membership of the G8 was suspended following its annexation of Crimea. The agenda includes issues of global interest among them development and environmental protection.

Dr. Sant said that as globalisation accelerates, the widening of economic divergences between regions in some of the large trading blocs is being overlooked. Meanwhile, the financial system remains predominant over all other economic sectors, because it serves to run and monitor globalisation. It is allocated resources and rewards proportionately far above its contribution to real value added. Wealth and decision making influence are again concentrated within a very narrow band of individuals and institutions.

Dr. Sant said that global and regional outcomes are assessed according to macro financial benchmarks that do not capture the growing divergences or even minimize their importance. Yet such divergences are provoking interregional, interethnic and intergenerational injustices. Economically, they are root causes for the stagnation that undermines the growth potential of regions in the developed and developing worlds. All these tendencies are already contributing to destabilisation. They might not appear to offer agenda material for meetings of leaders from the world’s largest economies. So, they have been taken over by extremist and so-called populist forces. said Dr. Sant.

 

Maltese Version – ‘IL-G7 GĦANDU JIŻGURA ŻVILUPP GLOBALI MAQBUL ŻONA B’ŻONA’

Alfred Sant qal lill-Parlament Ewropew li l-G7 għandu jiżgura li l-iżvilupp globali jippermetti li jkun hemm arranġamenti protettivi wiesgħa u selettivi, li jkunu maqbula żona b’żona fid-dinja. Dr. Sant qal li r-riżultati ekonomiċi li jinkisbu globalment u f’reġjuni differenti tad-dinja qed jitqiesu skont kejl finanzjarju meħud fuq skala wiesgħa ħafna. Il-G7, is-seba’ pajjiżi bl-akbar ekonomiji fid-dinja, li se jiltaqa’ bejn 7-9 ta’ Ġunju fil-Bavarja, il-Ġermanja huwa magħmul mill-Ministri tal-Finanzi u l-gvernaturi tal-banek ċentrali tal-Istati Uniti, ir-Renju Unit, il-Ġermanja, Franza, l-Italja, il-Ġappun u l-Kanada.

Dr. Sant, li kien qed jitkellem dwar stqarrija tal-Kummissjoni Ewropea dwar it-tħejjijiet għas-summit tal-G7, qal li l-globalizzazzjoni għandha tkun immaniġjata u ma titħalliex tiżviluppa waħedha. Il-G7 se jiltaqa’ għat-tieni sena suċċessiva mingħajr ir-Russja wara l-annessjoni tal-Krimea. L-aġenda tinkludi kwistjonijet ta’ interess globali fosthom l-iżvilupp u l-protezzjoni ambjentali.

Dr. Sant qal li waqt li l-globalizzazzjoni qed taċċellera, qed ikunu injorati d-diverġenzi dejjem jikbru bejn reġjuni differenti fid-dinja. Is-sistema finanzjarja qed tkun allokata riżorsi kbar waqt li l-ġid u t-teħid tad-deċiżjonijiet important huma konċentrati f’idejn ftit individwi u ftit istituzzjonijiet, saħaq l-Ewroparlamentari Malti.

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