Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-05-20-Speech-4-185"
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"en.20100520.16.4-185"2
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"Ladies and gentlemen, in 2009, Lithuania and some of our neighbouring EU Member States almost hit rock bottom. Maybe vultures are not circling above our heads, but we still do not feel safe: Lithuania’s GDP fell by 4.1% from quarter to quarter and in the first quarter of 2010. Most Lithuanians understand that the need for painful victims and severe measures will not disappear overnight. The long-term sustainability of public finances is essential to achieve stability and growth. The solution is to reduce the budget deficit. In the report, it is accurately observed that high indebtedness and deficit levels are threatening sustainability and could have a disastrous impact on employment, public health care and pensions. The decision we have to make is not one to be taken lightly – the increasing government deficit is becoming a huge burden for future generations. Financial stability is important for the recovery of the Lithuanian and European economies. Therefore, I agree with the measures debated this week, for example, proposals on the European Systemic Risk Board and the European System of Financial Supervisors. Now more than ever, we need smooth coordination of markets and hedge funds and better supervision. We also have to continue to seriously implement our international commitments. Most importantly, it is essential to regain the public’s trust and restore the economic self-esteem of each of our countries. We can achieve this by ensuring the long-term sustainability of public finances, talking straight and being transparent in everything we do."@en1
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