Local view for "http://purl.org/linkedpolitics/eu/plenary/2005-04-12-Speech-2-228"
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"en.20050412.28.2-228"2
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".
Mr President, following on from the speech the Vice-President of the Commission, Mr Verheugen, has just made, I would like to refer in particular to the content of the broad economic policy guidelines included in this document approved today by the Commission.
Naturally, the broad economic policy guidelines, an instrument enshrined in the Treaty, together with the review of the Lisbon Strategy, have growth and employment as a priority: to grow more and to create more jobs in Europe.
Last week I presented the Spring economic forecasts, which are produced by the Commission’s services and, as you are aware, we believe that there will be a recovery during 2005, a revitalisation of economic growth, which will continue during 2006, and employment will be created, but it will not be sufficient.
Growth must be more intense in order to create the necessary employment to allow us to achieve full employment.
To this end, the macroeconomic chapter of these broad economic policy guidelines, which are integrated into the package approved today by the Commission, reiterate the need to establish stable economic conditions that can create confidence. Because confidence amongst consumers and economic agents is needed in order to increase consumer demand, in order to increase investments and in order to increase internal demand, and that is the basis that should lead us, with sustained recovery, to more growth, more employment opportunities and thereby to greater guarantees that we can preserve and enhance social cohesion and the sustainability of our model of growth and of society.
Naturally, the broad economic policy guidelines for 2005-2008 take account of the review of the Stability and Growth Pact, based on the agreement reached by the Spring European Council, and, in this regard, they recommend avoiding pro-cyclic budgetary policies and maintaining the medium-term budgetary stability objectives throughout the economic cycle, and also taking account of the differing levels of indebtedness and the differing growth potential of each country when establishing those specific medium-term objectives.
For the euro zone, the specific need is stressed for the countries that share the single currency to achieve those mid-term budgetary balance objectives, and those countries are called upon to pay special attention to fiscal discipline and their budgetary situation.
As Vice-President Verheugen has just pointed out, the microeconomic chapter of the guidelines makes particular reference to the need to create the appropriate framework for attracting more investment to the internal market, to enhance innovation and, by means of greater investment, enhancing innovation, research and development and better functioning of the markets and increasing the growth potential of our economies.
Finally, of course, this macroeconomic and microeconomic strategy, integrated into the broad economic policy guidelines, is consistent with the employment guidelines that my colleague, Commissioner Spidla, will explain next."@en1
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