Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-03-25-Speech-3-059"
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"en.20090325.2.3-059"2
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"Mr President, President Barroso, ladies and gentlemen, the question of the combination of measures for support and stimulus and regulatory measures is one of the major questions on the international agenda. The tensions that exist, reflecting the different strategies adopted by the large economies to tackle the crisis, will, it is hoped, reach some sort of resolution at the G20 summit.
It is no secret, in fact, that Washington insists on the need for a further collective commitment for the adoption of national measures to stimulate demand and revive the economy, while at the Commission in Brussels, the prevailing belief is that all useful and necessary moves in this regard have already been made and that it is now time to wait and see the results of the anti-recession measures brought in by the Member State governments.
In the same way, it is no secret that Europeans believe we now need to concentrate on the aim of restoring the credibility, stability and reliability of the financial markets, by adopting stricter regulatory provisions and more effective monitoring systems for the banking and credit sector, while in Washington, opinion favours an argument of prudence, based on the idea of incisive reform of the regulatory framework and surveillance mechanisms.
To be honest, I do not think it is helpful to pit these solutions against each other. Instead, we should find a combination of the two, and in this sense, above all, the European vision must prevail, as the European method for which the Commission is guarantor, or prophet even. I have no doubt, President Barroso, that you are the right man to give shape to our hopes and bring us out of the abyss."@en1
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