Local view for "http://purl.org/linkedpolitics/eu/plenary/2015-12-15-Speech-2-096-000"
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"en.20151215.3.2-096-000"2
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"Madam President, the EU needs more economic growth and it needs to become more competitive. The recommendations made are balanced instruments. The euro area needs to get back on track economically. That means not just focusing on deficiencies in some smaller southern Member States, but also on larger Member States, where domestic demand needs to be stimulated. And yes, labour markets need reform, but reform in the right direction. It needs to be easier to hire people, not to fire them. The priority has to be to reduce the 25 million unemployed people in the EU, not to increase that number. Moreover, people need proper contracts and social protection, and not zero-hour contracts.
But what of the problems with these recommendations? They focus just on the euro area, but as a Union the EU is highly interdependent. We are 28 members in this club and we are all interlinked. Therefore, it is in all our interests to have a well-performing euro area. Deficits, excessive debt and imbalances all need to be properly tackled in a socially acceptable way. Representing the UK, our ties are close: 40% of our exports go to the euro area and major UK-owned banks have financial exposure to the euro area totalling almost twice their capital, worth a quarter of the UK’s GDP.
In a couple of days, the Council will be discussing the reforms on economic governance and competitiveness proposed by the British Prime Minister ..."@en1
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