Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-04-18-Speech-3-408-000"

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"en.20120418.21.3-408-000"2
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"The euro area, and with it the entire EU, has found itself in an extremely difficult situation in which every solution seems a bad one. We are now criticising the current policy of budget cuts in Member States, saying we need to increase pro-growth measures and create jobs, while it seems the answer is not nearly so obvious. The economists are saying that, on the one hand, the cuts which have been made in the euro area countries are too high and have not yet proved effective, while, on the other hand, increasing spending will cause a further fall in investor confidence and, as a result, a further worsening of the situation. I think the optimal solution would be an appropriate combination of these two approaches on a Europe-wide scale and finding a sensible method which the markets will accept, whereas in Member States with relatively stable public finances, we should intensify measures to stimulate growth and employment. The European Commission should make efforts to complete construction of the European internal market, which, despite the fact that it was established almost 20 years ago, is still not making full use of its potential because it is, in fact, the single market which promotes cooperation and the development of all its participants. In addition, the Services Directive needs to be strengthened further to increase the free flow of services in the European market. At a time when access to money is difficult, an interesting proposal is found in project bonds, which are intended to allow the EU to finance a significant part of its investment expenditure in the current decade."@en1

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