Local view for "http://purl.org/linkedpolitics/eu/plenary/2003-04-08-Speech-2-175"
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"en.20030408.5.2-175"2
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"Mr President, quite obviously the European Union is currently experiencing a mild recession and the future is not very bright either. The costs of the war and then the costs of the peace will weigh heavily on the world economy and therefore also on the European economy.
Can we afford, Commissioner, to continue to suffocate ourselves with a dogmatic policy of stability, which is seen as an end in itself? Of course stability is a public good! But economic policy cannot be restricted solely to combating public deficits. At present, the United States, paradoxically, has a much more pragmatic economic and fiscal policy than Europe. The American public deficit, calculated in accordance with the Maastricht criteria, would now be in excess of 5%. Should not the Stability and Growth Pact be supplemented, Commissioner, with a pact to coordinate economic policy, which would give a boost to growth and employment and would seek to stimulate public and private investment in research on infrastructure and regional development, and in training and the labour market?"@en1
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