Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-25-Speech-4-046"
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"en.20100325.3.4-046"2
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"The report on the annual management of the euro area and of public finances in 2009 analyses in detail the management of the EU during the global financial and economic crisis.
The decline of economic output in various EU countries has led to a dramatic rise in unemployment and a growth in the debts of European countries. The impact of the crisis on individual countries has varied and the measures through which individual countries have tackled the crisis have consequently differed from one another. Despite the efforts of EU bodies to adopt coordinated and collective measures, it appeared that in certain countries, populist governments with no proper sense of responsibility for the administration of public finances were courting disaster.
That is why the European Union as a whole has found it harder to deal with the impact of the crisis than other major economic centres, such as the United States, China, Japan and India. It has become apparent that the European economic environment as a whole may be diverse and extensively regulated but, compared to competing economies, it is very cumbersome. In the forthcoming period, we must therefore, along with efforts to consolidate the public finances of the euro area, also strive to restructure and greatly simplify the rules of the internal environment. We should not forget that it is the productive sector alone that generates the resources on which the whole of society lives."@en1
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