Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-04-18-Speech-3-396-000"
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"en.20120418.21.3-396-000"2
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"Mr President, ladies and gentlemen, I have to say that I was disappointed with Mr Barroso’s speech. As many have said – the last of whom was Mr Domenici – a fact evident to all, with the clear exception of the European institutions, has not been acknowledged. That is that we are falling from a recession into the risk of a depression, and in these circumstances, compliance with the objectives of the ‘six-pack’ and the fiscal compact is quite simply impossible.
There is only one solution for tackling this recessionary and depressive downward spiral and that is to revitalise demand through investment. The solutions and answers that Mr Barroso proposed cannot work by themselves. Investment is needed, and as it is not realistic to make a substantial increase in the European budget at the moment – although we have been asking for it – public investment is needed, and therefore a reform of the ‘six-pack’ that introduces the golden rule on a group of public investments, which need to be separated from the calculation of the structural deficit. This is what Europe needs today."@en1
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