Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-11-18-Speech-2-312"
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"en.20081118.29.2-312"2
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"Madam President, I should like to make a preliminary observation. It is true, as has been said by many people, that Europe should play a greater role on the world stage, but Europe should also speak much more with one voice rather than it being fragmented as it is at the moment. The large Member States will need to conform and recognise that we now have to show a united European front. After all, the leading role in regulation, re-regulation, supervision and the improvement of the financial markets is not the brainchild of Gordon Brown or Nicolas Sarkozy, but the European institutions. We in Europe should now defend what has been set out.
Apart from the agenda for the financial markets, all attention should now go to the economic crisis we are facing. All the alarm bells are ringing. Here too, while we should act internationally, we in Europe should also act in a more European manner, with a European rescue plan. This should not just be more of the same; we would like to see a real U-turn. The Brueghel economists have really lost their faith and now plead in favour of more spending. Reserve should turn into thought-provoking policy. In my view, what they propose, this one percentage point, is far too little and we will not get there with the 1% reduction in VAT they proposed, because the figures of the decline are much bigger. In the Netherlands, for example, the building industry is facing a 20% decline, so I think that we should apply the low VAT rate there to ensure that the housing market across Europe receives a shot in the arm."@en1
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