Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-10-21-Speech-3-033"

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"Mr President, I agree with Mr Marinescu that the forthcoming Council should find a solution to two issues. One is completing the ratification of the Treaty of Lisbon, and the other is new cures for the economic and financial crisis. We are presently living through the deepest crisis in Europe’s economic history. This crisis will mean a thorough shake-up of people’s opportunities, income, pensions and jobs, and we must be aware of that. The European Union began its recovery very well. We should thank the Commission for that. The Commission and the European Central Bank even acted so quickly that the United States of America followed Europe’s example. Then things rather oddly began to slow down and people started to say that the crisis was over. The crisis, however, in fact lies ahead, because a four-bladed guillotine hangs over the European Union, in the shape of growing unemployment, indebted national economies, an ageing population, and the huge structural change which will take place in the forestry industry, the car industry, and so on. Actually, the only good thing about this economic crisis is that policy is required to resolve the problems. As for the new financial architecture, the Commission is being quite unambitious about this. Hopefully, the financial crisis work group that Parliament has set up will be a new source of guidance. The objective must be the regulation of the financial markets. Over-regulation, however, must not be allowed to prevent growth and employment."@en1
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