Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-12-01-Speech-4-256-000"
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"en.20111201.35.4-256-000"2
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"For a long time, the required national contribution, in addition to the restrictions imposed on public investment under the pretext of the Stability and Growth Pact (SGP), has been compromising the full uptake of EU funds by the very countries that are weakest and need it most. The IMF-EU programmes have been significantly exacerbating this situation, with investment – public and private – hitting historic lows. As such, this Commission proposal to increase EU cofinancing – from the European Regional Development Fund and the European Social Fund – for the countries facing the worst difficulties, with the corresponding reduction in national contributions, has been urgently needed for a long time and has come too late, regrettably.
However, it is important to mention that this proposal does not increase – as it should – the budget available to each of the countries in difficulties. Quite the contrary, owing to the reduction in national contributions, the practical result will be reducing the overall sum intended for investing in the areas in question: social areas and regional development. As a result, the prospects for growth and development opened up by the investment made will be reduced. This compromises the goal of cohesion. There is therefore a need for the Commission to consider the possibility of actually increasing the Union funding available to these countries beyond abolishing the irrational criteria of the SGP, by freeing up the necessary public investment."@en1
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