Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-11-23-Speech-1-150"
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"en.20091123.20.1-150"2
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"I would like to begin by congratulating the rapporteurs for the excellent job they have done. I also wish to express my appreciation of these initiatives proposed by the European Commission and Council, aimed at providing macro-financial assistance to Bosnia and Herzegovina and Serbia. This financial support from the European Union is being offered at an extremely difficult time for both countries.
After the terrible ordeal this part of the Balkans lived through in the 1990s, shedding so much blood, the region entered a period of reconstruction which has, however, been stymied by the current economic crisis. Both countries have suffered the full force of the recession, against the background of a budget deficit and unemployment rate that were already high. The crisis has forced foreign investors to withdraw their investments in numerous East European countries, with Serbia being one of the countries most severely hit by the deficit triggered by the huge outflow of foreign capital. The collapse of economic growth combined with having to meet their obligations more quickly to repay short-term debts has increased the need for external finance.
As a result, this support from the European Union is being provided at a time when the full impact of the external funding deficit is being felt, not to mention that the economic and social prospects are gloomy. It is estimated that the peak in the unemployment rate will be recorded only in the next two to three quarters.
We are well aware that social discontent can have a harmful effect on a country’s stability, especially when it comes on top of already existing tensions and is rooted in such a sensitive issue as ethnic origin. This is why I welcome these proposals for macro-financial assistance. I must also stress how necessary they are, primarily as a factor in maintaining and consolidating stability in a region which has been hit hard and is in a delicate balance. We cannot fail to take into account either the prospects for the European Union’s enlargement in the Balkans, which is another reason why it is our duty to support these states aspiring to European integration.
Before ending, I would like to emphasise the urgent nature of this financial support, given the economic situation in Serbia and Bosnia and Herzegovina, which is worsening at an accelerated pace. The urgent nature of this assistance should, in my view, take precedence over considerations of a procedural nature dictated by the entry into force of the Treaty of Lisbon. I therefore support the proposal put forward by both rapporteurs on transferring Community funds in good time, avoiding the delays caused by the need for the European Commission to modify the legal basis of the provisions."@en1
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