Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-02-02-Speech-3-075-000"

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"Mr President, energy and innovation are very important issues, which are fundamental to the Europe 2020 strategy, and can contribute to smart, sustainable growth, and to creating more and better jobs. In fact, energy and innovation are areas in which my country, Portugal, has been making large-scale investments with good results. In recent years, Portugal has doubled its investment in R&D and has reached the top five in terms of renewable energy: 31% of electricity consumed already comes from renewable sources and this figure is expected to be 60% in 2020. However, as has already been said, this Council cannot ignore what is happening in Egypt: a popular revolution. Nor can it ignore the financial and economic crisis. The eurozone Member States in the greatest difficulties are doing what they should by adopting austerity measures, which are needed in order to contain the deficit and calm the markets. These measures require great sacrifices from families and businesses. As for the EU, is it doing what it should? I do not think so. The European response in the face of attacks on the euro by speculators – because it is through sovereign debt that speculators are attacking the single currency – has been piecemeal, late and ineffective. The diagnosis has been made and the prescription is well known: the European Union must improve economic coordination, and make the European financial stabilisation fund stronger and more flexible, so that it can buy the public debt of the countries under the greatest pressure from the markets. In other words, we are facing global problems requiring a global response. That is also what the public expects from the upcoming European Council."@en1
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