Local view for "http://purl.org/linkedpolitics/eu/plenary/2003-03-11-Speech-2-249"

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"Mr President, proactive and resolute leadership is needed on economic policy at the EU's spring summit. We cannot go on trotting out the same old formulae. Unfortunately they fall far short of what is required at a difficult time, which is not only characterised by an economic downturn but also, regrettably, by the shadows that an approaching war is casting over economic and employment policy. That is why Parliament's reports – and I mean all of those on the table this evening – show a glimmer of hope but at the same time make demands that mercilessly expose the weaknesses in the European economy. I should like to underline that it is out of the question to eliminate a Stability and Growth Pact that has been created to bring order to the economy. Instead we need to apply it taking into account the Lisbon objectives in a time and a place and in such a way that it makes sense, because the people of Europe deserve no less. I think that we need to make every effort to halt the economic slide. We cannot deny either that even the European Central Bank is now talking about risks of a downward trend in the European Union. This means that we need to pursue a proactive policy and to that extent the repeated references to structural reforms do not serve any purpose either. Besides, we do not yet know what economic benefits these structural reforms will bring to the European Union and we have no idea what impact they will have on employment policy. Economic institutes, national ministries and also the Commission have not answered this question. But we need this answer to know which direction is the right one. I believe that the saying still holds true: employment creates growth, but growth also creates employment. We have to work on the basis of real growth and not only on the basis of potential for growth. I should like to point out once more that it is absolutely right – as the reports also state – for us to refer repeatedly to the lack of investment in both the private and public sectors. We are not honouring the Lisbon agreement about 3% growth. Neither are we respecting the agreement to invest more in research and development, and that too applies to both the private and public sectors. Japan and the USA are streets ahead of us in both respects. At the moment we perhaps do not really need an economic government, but coordination up and across our governments, coordination that is worthy of the name, is in the interests of growth and employment."@en1

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