Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-04-23-Speech-4-345"
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"en.20090423.62.4-345"2
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".
Mr President, the essential question is, of course, what to do now. What must Europe deliver when the G20 meeting is resumed in September this year?
I have here the very latest prognosis from the IMF. I regret to inform Commissioner Rehn that it states that, even including all we have done, economic development in the euro zone will go down this year by -4.2% in growth and, in Germany alone, the rate will be -5.6%. We have transposed that in our macroeconomic calculations, and I can tell you, colleagues, that this means that, in spring 2010, we will have 27 million unemployed in the European Union. This means in essence that, in two years, unemployment will have increased by 10 million jobs lost in the European Union.
We now need to act quickly, in a coordinated and effective manner, exactly as Olli Rehn said. The conclusion from the G20 in London was that, if there is a need to do more, then we agree to do more. I cannot say anything other than repeat the figure of 27 million unemployed people. Does one need further arguments to do more?
I would propose doing four things in preparation for the September G20: firstly, to prepare a new, coordinated effort to reduce this threat of mass unemployment; secondly, to follow the de Larosière group’s two proposals – to establish a supervisory board and to give more competence to so-called CSR organisations; thirdly, to introduce effective financial regulation, covering hedge funds and private equity; and, fourthly, to prepare Europe to take a role in promoting a new global deal, including for those developing countries which have been hardest hit by this economic crisis.
Please, Commissioner, do not tell me one more time that you have made a financial stimulus of 4%, including automatic stabilisers. Next time it will be 5%, when unemployment increases to 27 million unemployed. Let us be fair and let us create the jobs. We can do it together."@en1
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