Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-04-23-Speech-4-346"
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"en.20090423.62.4-346"2
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".
I would also like to welcome the agreement reached in London, but at the same time underline that the global economy needs global governance. The European Union can take on the role of that leader for two reasons, because both after the war and after the collapse of the Soviet bloc, it was able to restructure its economies within a short space of time. We have significant experience in managing such complicated processes.
They must be based on structural reforms. We have to provide space for new initiatives. If we now concentrate attention on technical details, the improvement of regulation, which clearly is necessary, then we will lose the initiative and room for movement. Movement and new jobs only appear when structural changes take place. What structural changes can the European Union offer the world?
Above all we must modernise governance, modernise the European Union’s financial markets, rest on the strength of our common European market and not shut ourselves away in our little national corners. If we are able to work together in the European common market, this will be an excellent example to the world, that we do not need to pursue protectionism, that it is precisely openness, cooperation, the movement of capital and macroeconomic balances, based on common agreements, which will help maintain stability and revive the economy. Europe’s experience in this area is invaluable.
I always find it difficult to understand why we are not doing this. Perhaps we pay too much attention to those hedge funds and too little to people’s lives."@en1
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