Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-02-15-Speech-3-224-000"

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"Mr President, there is a saying in Latvian that you cannot extract money from a beggar, however hard you try. In Europe as a whole, the greatest challenge we have at the moment is to increase economic activity and provide prosperity to our people. It is very important for us to take these austerity measures to put the budgets of our Member States in order, but we also need growth. There are many people who think that the only path to growth is for Member States to print even more money, in order to stimulate the economy, but this would be at the cost of borrowed money, and is not the right path. The right path to foster growth is two-fold. Firstly, Member States must make the structural reforms required to reduce overall government spending. Secondly, we must continue to improve Europe’s single internal market, removing obstacles to cross-border activity. Ladies and gentlemen, without economic growth, we shall not have prosperity in Europe."@en1
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