Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-04-21-Speech-2-044"
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"en.20090421.16.2-044"2
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"Mr President, as you know, we are witnessing a worrying decline in international trade. Consequently, an immediate reversal in this situation is a fundamental parameter in the economic recovery which we are seeking. It is estimated that the increased cost of borrowing and the reduction in the flow of credit are responsible for approximately 10-15% of the slowdown in trade. The multilateral trade finance package adopted in London by G20 is without doubt a positive move. In my opinion, the Union is also being called upon to continue to play a leading role in the practical application of the London package in three directions:
firstly, targeted intervention by multilateral and regional financial institutions;
secondly, coordinated public intervention at national level; and
thirdly, adjustment of the relevant multilateral rules.
This message is directed to the European Commission so that it can take the necessary initiatives."@en1
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