Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-11-17-Speech-1-087"
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"en.20081117.21.1-087"2
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"Mr President, Mr Juncker, you are out of luck, because today’s debate on the success of euroland is being held at a moment when Eurostat has announced that a major recession is starting in the countries which have the common currency. This should incline you to self-criticism, rather than to the unbounded propaganda of success. In their report, the authors praise the fall in unemployment, which over nine years has admittedly been just over 1.5%, but forecasts now predict a significant increase in unemployment in the Euro Zone in the coming year. The other side of the coin is less pleasant, and the report does underline this, and that is the very unsatisfactory economic growth and significant reduction in productivity (from 1.5% in the 1990s to 0.75% in the past decade).
It is clear that the euro is neither a panacea for economic woes, nor an instrument that by its nature provides faster economic growth and greater prosperity than in the EU countries outside the euro – Sweden, Denmark and Great Britain."@en1
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