Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-10-24-Speech-2-315"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20061024.33.2-315"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:translated text |
"Mr Mitchell, it is true that the euro zone, and the European Union as a whole, is also showing growth in 2006, and we are seeing the beginning of clear economic recovery. Despite this economic recovery, however, we are still seeing growth figures that are lower than those expected when the economic and monetary union entered the third phase and, to a certain degree, some people are trying to establish a relationship between that low growth, compared to other areas of the world economy, and the existence of the single currency or the existence of the economic and monetary union itself.
I believe that the most rigorous analyses, not just those by the Commission, but also those by other institutions outside of the European Union, come to the conclusion, like us, that the obstacles to growth in Europe and, in particular, in the most significant economies of the eurozone, are basically, fundamentally, of a structural nature. Hence, we must place the emphasis not only on respect for the operating rules and the rules on budgetary discipline or on the independence of the European Central Bank in the shaping of the economic and monetary union, but also on growth policies of a structural nature, which are what we call, in our jargon, the Lisbon Strategy policies. It appears that what our economies need is a combination of healthy macroeconomic policies, geared toward stability, and ambitious structural reform policies.
From that point of view, enlargement, the arrival of ten new Members in May 2004, has been a spur, an incentive and a positive stimulus for the European economies as a whole. A few months ago, in May 2006, coinciding with the second anniversary of the arrival of ten new Member States, the Commission published, under my responsibility, a communication on the economic consequences of enlargement. Our assessment of the economic consequences of enlargement has been very positive; very positive for the new Member States and also for the old ones, for the European Union of fifteen, because, amongst other things, the new Member States are, generally speaking, showing a greater capacity for implementing structural reforms and making the necessary structural changes. It is true that they are starting from a less advanced situation. They have also introduced dynamism, positive pressure, which is also encouraging economies of the former European Union of fifteen to speed up the implementation of structural policies.
In fact, I believe that some of the positive impacts of structural reforms aimed at greater growth may be coming to light during this recovery phase. It is still too soon to judge the extent to which the improvements in productivity being recorded during the first two quarters of this year are exclusively due to factors linked to the economic cycle. The European Central Bank tends to put practically all of the increase in productivity recorded over recent quarters down to the economic cycle, but I believe that there are certain indications that the structural reforms that have been adopted over recent years and whose pace is beginning to speed up as a result of the positive impact of enlargement are also beginning to play a positive role in this improvement in productivity."@en1
|
Named graphs describing this resource:
The resource appears as object in 2 triples