Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-03-09-Speech-3-438-000"
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"en.20110309.19.3-438-000"2
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"European industry is still facing the consequences of the economic crisis, and requires a coordinated approach at EU level in order to handle them successfully. An industrial strategy must be drawn up for the EU setting out strategic areas for investment, and then taking account of these priorities in the future financial perspective, annual budgets and policies of the EU. The development of European industry will not happen without ambitious funding, especially in the areas of research and energy, telecommunications and transport networks (TEN), and therefore in the public services which sustain the business environment. In my opinion, however, it is neither necessary nor appropriate to start issuing EU bonds for this purpose (Eurobonds or project bonds). The EU is not a sovereign political entity, and therefore its revenues should basically be made up of the contributions of Member States. Not to mention the fact that the idea of Eurobonds involves debt and might clash with the principle of a balanced European budget. Financial support for innovation, infrastructure and reindustrialisation should be based primarily on boosting the resources for the Eighth Framework Programme for Research and Development and for the Competitiveness and Innovation Programme, with the aim of ensuring that European industry remains competitive at the global level, and thereby also making effective use of private investments."@en1
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