Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-03-11-Speech-3-080"
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"en.20090311.3.3-080"2
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"I believe that the initiative proposing an economic recovery plan during the current crisis is welcome. The EU needs to adopt a common, clear and effective approach so as to minimise the effects of the crisis as much as possible in terms of its intensity and duration.
We need clearer regulations for the financial sector, especially with regard to investments involving a high degree of risk, such as hedge funds.
At present, solidarity between Member States is of paramount importance. It goes without saying that Member States will adopt measures specific to their national context, but they must not run contrary to the internal market and EMU. The priority must be to facilitate credit, especially for SMEs, which are a driving force for economic growth and have the ability to create jobs. Intervention measures by the state must, however, be temporary, after which competition regulations must be strictly complied with.
In addition, measures to combat the crisis must be integrated as part of a responsible budgetary policy. Although we are going through a crisis, I feel that it is particularly important to adhere, as far as possible, to the Stability and Growth Pact, since increasing the budget deficit may be a disastrous solution in the long term, especially for future generations."@en1
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