Local view for "http://purl.org/linkedpolitics/eu/plenary/2004-11-17-Speech-3-058"
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"en.20041117.3.3-058"2
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"First of all, I would like to congratulate the committee on its report and I will comment on only one aspect, the Lisbon strategy. The Wim Kok report is undoubtedly an important step on the bumpy road toward achieving the goals set forth in Lisbon. It is apparent today that it will be almost impossible to adhere to the original schedule without deeper political commitment and serious effort.
The submitted report makes a valuable contribution to accelerating the Lisbon process and every, and I would like to stress
recommendation in the document is worthy of consideration. The holistic approach suggesting a direct correlation between the question of job creation, the need to increase employment and developments in the macroeconomic environment is especially valuable. It also points out the important role of slowdowns and acceleration in economic growth trends.
Nevertheless, a few of the statements connected with this in the Report should be treated with caution. I am sure the few sentences adopting a critical tone with regard to the Stability and Growth Pact did not escape your attention either. As far as sustaining economic growth is concerned, the report paints a rather negative image of such an important instrument of public finances and budgetary discipline. We must not forget that the Stability and Growth Pact plays an important part in ensuring economic stability and consequently in ensuring that money retains its value. It must be emphasised that the assumption that reforming the Stability Pact and slackening economic discipline would in themselves create jobs through additional expenditure is something of an oversimplification of economic logic. It is evident that this assumption would only be true if governments used their budgetary expenditures only for development purposes. This, however, is far from the truth.
Therefore, I do not believe that fundamental reform of the Stability and Growth Pact would be in the economic interests of the Union; quite the contrary: it would reduce competitiveness even in the short-term. Nevertheless, the criticism of the Stability Pact expressed in the Wim Kok report undoubtedly addresses real concern, namely the key role of economic growth in creating and increasing employment. I, for my part, would suggest a different approach to solve this problem: I am thinking primarily of creating an enterprise-friendly economic environment."@en1
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