Local view for "http://purl.org/linkedpolitics/eu/plenary/2002-05-15-Speech-3-121"
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"en.20020515.5.3-121"2
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".
Economic growth in the EU as a whole fell to 1.6% in 2001 (compared with 3.3% in 2000), the unemployment rate remained more or less stable at 7.7% in December 2001, compared with 7.9% in December 2000, the rate of inflation rose from 2.1% in December 2001 to 2.5% in January 2002 with the introduction of the euro and the ratio of investment to European GDP is far lower than that required for sustainable growth.
Instead of public investment, a radical employment policy programme and meaningful concepts to guarantee health care and pensions, the rapporteur calls for strict compliance with the stability and convergence pact as an end in itself. His proposals for achieving this are as old as they are misguided: he calls for expenditure to be capped (naturally with social transfer benefits as the main source of savings) instead of calling for improvements on the income side and he calls for wage restraint at a time when wages are generally falling in real terms and transnational groups are making a killing and often do not even have to pay any tax. How is this sort of strategy expected to force demand?
I cannot vote in favour of such a report."@en1
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