Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-10-20-Speech-3-013"
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"en.20101020.3.3-013"2
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"Mr President, Mr Chastel, Mr Barroso, the financial, economic and social crisis that the world has been in for several years now is going to cost USD 60 trillion worldwide, which is the equivalent of one percentage point of annual growth. We have to do something about it. It will result in an 11% unemployment rate in our European Union by the end of the year. It is unfolding against the backdrop of a new currency war, caused by the risk of a double-dip recession, in the words of our economists.
Faced with this situation, I have sensed the feeling, in this House, that it is our duty to send a strong message to the other institutions, to the Commission and the Council, to say that we must join forces again around the added value of the European project, and that the issue at stake can be summarised in a few words: we have a collective responsibility and we need to implement an EU-wide strategy that will enable us, in the area of energy, to be strong on the inside and thus, strong on the outside. We must count on our own strength and, to do so, we need the European level.
However, Mr Barroso, to our mind, economic governance is not a vision. It is a means of furthering this strategy, and it is on the basis of this strategy that we decide which resources are needed. These are, first and foremost, financial resources. There is the challenge of bringing the review of the financial perspective into line with this focus on a strategy for a European energy community. There is the need to harness a proposal that you are rejecting: the taxing of financial transactions. There is the need to grant a substantial European loan to finance long-term investments. There is the need to restore the balance of taxation in Europe so that it promotes work and jobs instead of capital, and so that it is environmentally friendly. There is the need to coordinate the Member States’ budgets with the European project so that efforts are aimed in the same direction.
In terms of governance, we suggest appointing a ‘Mr Euro’ to ensure harmonious and balanced economic governance. We also suggest not focusing exclusively on the situation of countries in debt but balancing it with an assessment of countries in surplus. Moreover, we suggest that, in a monetary union, debt should also be managed in common and that we should be able to envisage mutual debt issuance. We would like financial reform, which you are working so hard to achieve Mr Barroso, to focus on the needs of Europeans and not only on financial stability objectives. We want to see the financial markets reformed in a way that revives the notions of ethics and moral values, that aids job creation and long-term investments.
No European project can succeed if it is not backed by the Member States. The only way for the European Union to show the best it can do is to make the Member States want to support it. A debate that is focused solely on the drudgery of imposing sanctions will not make Europeans want to get involved again with their Member States in the project. What we are asking for is strong action based on the added value of the European project so that we can lift Europeans out of this recession and ensure that, in the future, everyone in Europe has a job, is out of poverty, and can once again have faith in the European project.
That is our ambition. I hope, Mr Barroso, that you will be able to share it and take up many of the suggestions that we are making here, on behalf of this entire House."@en1
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