Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-07-03-Speech-2-366-751"
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"en.20120703.18.2-366-751"2
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"I voted in favour of this report because the economic, financial and fiscal crisis in the European Union has significantly broadened economic and social disparities among Member States and regions, resulting in an uneven distribution of inward and outward investment across the European Union. The global economy has embarked on the road to recovery, but there is limited room for manoeuvre, and ensuring a steady economic recovery process requires policies at international, EU and national level to be cautious. The European Union suffers from weak growth and expected growth rates differ significantly across the European Union. This weak growth is due to continued uncertainty and a lack of consumer and market confidence. The financing of the Member States’ public debt has the effect of absorbing resources for investment, growth and employment, while capital flight from certain Member States to certain other Member States, as well as to certain third countries, may contribute to a worsening of the EU balance of payments situation. In order to tackle the fiscal crisis and enhance growth and employment, the Union should further exploit its strengths, such as the high level of consumption, education and quality of life, its research and innovation capacity, high labour efficiency and productivity, as well as a friendly and motivational business environment. It is therefore necessary to establish a consistent framework of stability within monetary, fiscal and trade policy, in order to facilitate the flow of direct investment in all Member States and EU regions, thereby contributing to correcting the European Union’s macro-economic imbalances."@en1
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