Local view for "http://purl.org/linkedpolitics/eu/plenary/2013-02-04-Speech-1-207-000"
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"en.20130204.21.1-207-000"2
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"Madam President, in the final three months of 2012, the United Kingdom’s economy shrank by 0.3% and the British people now face a triple-dip recession, unprecedented in our modern history.
Across the euro area, no one is expecting to see any kind of growth this year. The economic crisis has exposed the euro as a misconceived and politically-motivated currency agreement – one that has brought together countries of unequal economic strength and then straitjacketed them until the livelihoods of their people are crushed.
We have seen the Greece bailout – and then come Portugal, Ireland and even Spain. Cyprus will be next, and who knows which country will follow them. The real reason for the euro zone is to enforce ever-closer union, but it seems to have the reverse effect.
Citizens, in seeing economic growth, rightly ask why their taxes are being used as a lifeline for foreign collapsing economies. Even in Germany, which I know very well and which many call the industrial powerhouse of Europe, there is no growth in jobs and no recovery. Small and medium-sized businesses are suffering and others are being forced overseas, as are the jobs that go with them.
Our situation in the UK is similar to Germany’s, only worse. The UK has high unemployment, very high and growing youth unemployment and rising energy costs. The outlook is bleak, with no industrial recovery. Manufacturing now accounts for less than 16% of the UK economy. Thirty years ago it was more than twice that. So-called green energy policies, which are pushed by the European Commission, are killing and restricting potential growth areas, such as shale gas, which can provide jobs and cheap energy and in which the UK should be a world leader."@en1
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