Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-12-Speech-3-103-500"
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"en.20111012.14.3-103-500"2
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"The European Union’s economic problems and competitiveness feature on the European Council agenda in October. As in 2008, the EU is now intending to recapitalise Europe’s banks. The higher incidence of financial crises in recent years highlights that we are attempting to address only the effects, and not the causes of the economic and financial crises, using obsolete instruments.
It is time to bring about a more radical change to Europe’s financial system. This also means that new financial instruments need to be developed. If a rapid, major restructuring of the financial sector fails to take place, the EU could find itself again, in a few years, in the situation of recapitalising the banks. The EU must adopt measures promoting economic growth and job creation without delay.
Europe’s citizens want peace and prosperity and are concerned nowadays about their own and their children’s future. They want decent jobs and a decent living so that each of them is included in society and makes a useful contribution to it. This is why the European Union must urgently invest in an ambitious, eco-efficient industrial policy, capable of providing jobs across the EU. The EU must also invest in its own transport, energy and information technology and communications infrastructure in order to increase its competitiveness."@en1
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