Local view for "http://purl.org/linkedpolitics/eu/plenary/2000-01-19-Speech-3-039"

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"Mr President, Mr President-in-Office of the Council, the Portuguese Presidency has presented an ambitious programme. We European socialists are confident in the ability of Antonio Guterres’s team to bring the European Union back onto the track of sustainable economic development. Europe is suffering from several major problems. Firstly, unemployment is still too high. We have a rate of employment which is lower than in the United States of America and Japan. Public and private investment in Europe is inadequate. The requisite budgetary consolidation has forced many Member States to reduce infrastructural investment while the private sector has not always taken up the baton. Venture capital investments in the USA are double what they are in Europe, and the Americans invest three times more than the Europeans in creating new businesses. In the USA, 80% of venture capital goes on new technologies compared with only 27% in Europe. Japan invests 2.9% of its GDP in research and development, the USA 2.8% and Europe only 1.8%. Researchers represent only 2.5% of the labour force in our companies compared with 6% in Japan and 6.7% in the USA. We have a lack of brainpower as we have fewer postgraduate students than the USA or Japan. Nearly half of European students working for a doctorate in the USA remain there to work. In the technology sector, there are between 700 000 and 800 000 vacant jobs in Europe without the qualified staff to fill them. The Americans have the same problem in this respect. Yet, last year, the US Senate allocated nearly 500 000 four-year immigration visas to highly qualified workers. Europe cannot organise such a brain drain. We must invest more in training, education and innovation. Innovation and knowledge are nowadays the main sources of wealth of countries. The Portuguese Presidency must be congratulated for pressing for a Europe of innovation and knowledge. The President-in-Office of the Council has just announced that there will be no Lisbon process, which is commendable. On the other hand, the Luxembourg, Cardiff and Cologne processes must be combined in a single coordinated action with precise and verifiable objectives. The Dublin growth and stability pact has all the stability and none of the growth. Stability is necessary but it is not an end in itself. By improving world economic prospects, we can expect a Lisbon pact for growth from the Portuguese Presidency."@en1

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