Local view for "http://purl.org/linkedpolitics/eu/plenary/2004-09-15-Speech-3-126"

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"Mr President, the changes being promoted by the European Commission in the Stability Pact do not affect its neo-liberal philosophy. They serve the particular requirements – let us face it – of the French and German governments and they will place a particular burden on countries such as Greece with high public borrowing, borrowing which will increase as a result of the exorbitantly expensive Olympic Games and high defence spending. These changes to the Pact do not address the crucial problems of low growth rates, high unemployment or huge social and regional inequalities, problems which have blighted the progress of the European Union over recent years. The Confederal Group of the United European Left – Nordic Green Left, at the opposite end of the spectrum to criticism by European bankers mouthing their absolute neo-liberal doctrine, is demanding radical reform of the Stability Pact. We demand a European pact on employment, growth and social cohesion which will introduce social criteria with quantifiable and verifiable indicators and will make provision for penalties and sanctions for the countries which infringe them, such as countries which maintain high unemployment."@en1

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