Local view for "http://purl.org/linkedpolitics/eu/plenary/2005-02-22-Speech-2-037"
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"en.20050222.4.2-037"2
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"Mr President, the EU’s economic policy is currently made up of three elements: a platonic ambition – the Lisbon Strategy; a despised constraint – public spending controls; and a demand that has been ignored – support for purchasing power.
The Lisbon Strategy is a platonic ambition. Who could not support the objectives set in Lisbon? Who could not be in favour of a knowledge-based economy, of better training for people, of progress in research and development and of an innovation-based society? Who would not be in favour of these objectives? Who, on the other hand, cannot see that the term open cooperation is an empty shell? Open cooperation is nothing but the free policy of States that, from time to time, make imaginary appointments with the European Union, and the Council, the Commission and Parliament are reduced to institutions of comment and disapproval. We will not win the game this way.
Controls on public spending are a despised constraint. Behind a supposed dispute between Keynesians and liberals on the issues of the instruments of short-term economic policy and the use of public spending, for 25 years we have seen public spending spiral out of control and systematic deterioration, in a number of large countries, particularly in terms of debt, which prevents our children from taking control of their own futures. This is tantamount to death, or the past, taking away life, or the future.
The European Central Bank (ECB) stands unjustly accused in this case. What do we blame the ECB for? We blame it for excessively high interest rates, yet they have never been so low since the war; and for the policy of an excessively strong euro, a situation that has obviously been brought about by US policies of systematic deficit and not by the supposed good qualities of the Europeans. The truth is that the ECB scarcely has the resources. Then there is the Stability and Growth Pact, which is an instrument to be reformed. What do we blame the Stability and Growth Pact for? We blame it for being stupid and malicious. If this is the case, then let us endeavour to make it less stupid, whilst retaining its binding nature.
I shall finish, Mr President, by mentioning a demand that had been ignored – stimulating purchasing power. Who cannot see that we are currently in a system in which employees have less and less money and purchasing power in comparison with shareholders? There are potential remedies, such as spreading share ownership and reducing taxes for workers, yet these remedies are ignored.
My fear, Mr President, is that the institutions and the EU will be reduced to being the chorus in a classical tragedy in which the actual protagonists are the national governments."@en1
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