Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-22-Speech-3-244-500"
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lp_eu:Prevention and correction of macroeconomic imbalances - Implementation of excessive deficit procedure - Requirements for budgetary frameworks of Member States - Budgetary surveillance in euro area - Surveillance of budgetary positions and surveillance and coordination of economic policies - Enforcement measures to correct excessive macroeconomic imbalances in euro area (continuation of debate)2
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"At a time when the impact of the recession and public debt crisis is being strongly felt, we need robust economic governance at EU level. However, the economic governance legislative package would not, in its present form, help the European Union’s economy to recover, but would bring about a situation where high unemployment and poverty would be permanent fixtures. I think that the proposals in this package are not ambitious enough, as they are only geared towards austerity and curtailing citizens’ social rights. There is no mention of elements which could underpin a European economic recovery, such as making investments in the key areas of infrastructure, education, research and innovation. We are able to propose an alternative to this austerity model which, as we can see from Greece, is proving to be extremely limited. The creation of bonds to be issued jointly for part of Europe’s public debt would automatically reduce the cost of financing in the European Union and would allow the resumption of investment. Following the New Deal policy model from the United States, the solution to the current economic and financial crisis will involve restoring economic growth based on investments and creating new jobs."@en1
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