Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-05-19-Speech-3-356"

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"Mr President, never more than today has the importance of long-term sustainability of public finances been pushed to the forefront in such a dramatic manner. It is easy and natural to say ‘we warned you not to let your deficits and debts spiral out of control’ and we have every reason to. However, now that many Member States of the European Union, including those in the euro area, have come to this unsustainable situation, we cannot simply reverse the situation and try to do so in as short a time as possible while ignoring the serious economic environment we find ourselves in. This is not an appeal to postpone our actions in the field of public finances. I am not implying anything of the sort. However, to demand the implementation of austerity programmes unscrupulously within European Union countries would mean condemning the entire European region to a long period of slow economic growth, if not worse. We cannot afford to curb demand, even in countries which boast surpluses, both on an internal and external level, and which have the means to spend more and not less. We must help the weaker European Union countries to stimulate their economies through exports and therefore help to stimulate job growth prospects. Let us not be dogmatic. This situation requires that we act intelligently. It also necessitates an element of flexibility in many sectors, not least in economic policy."@en1
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