Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-02-14-Speech-2-191"
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"en.20060214.26.2-191"2
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".
Mr President, how well I remember the declaration of the Lisbon Agenda in this very Chamber. We were going to become the world’s most dynamic and vibrant economy, with full employment. Well, here we are, over halfway through, and what do we have? Twenty million unemployed and, in the eurozone, desperately low growth rates and a complete collapse of foreign direct investment. We are stumbling around in an economic desert, but rather like the soldiers – the French Foreign Legionnaires in
suddenly we have seen a vision: the services directive. It is going to give us a free market, liberal economics and the solution to all our woes. Sadly, of course, it is a mirage, because nothing is ever as it seems in the European Union. This belief that yet more legislation will improve things is wrong every time.
When we talked in 1999 about the creation of a single market in financial services, all my friends in the real world in the City of London said: ‘Nigel, you have got it wrong’. I am fairly used to people telling me that I have got it wrong. But, seven years on, what has happened? We have a financial services action plan, we have the implementation of 42 new directives and the burden on financial services is heavier than it was before. Businesses are leaving every day and moving to Switzerland and Bermuda and the same thing will happen with the services directive.
The application of this directive will vary from country to country. The Commission will say that we need more harmonisation measures to make it work. The burden on business will increase and, worst of all, it will be the European Court of Justice that can legislate and decide on all this. This directive represents yet another massive shift of power from the Member States to these failing institutions. They will no longer be able to run their own economies. We shall vote ‘no’."@en1
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"Beau Geste"1
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