Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-07-15-Speech-3-066"
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"en.20090715.5.3-066"2
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"Mr President, I would like to congratulate the Swedish Presidency for prioritising economic challenges. Whilst we have economic uncertainty, our ability to face any of our other challenges is obviously diminished. You are right to prioritise the need to restore public finances: the extraordinarily high levels of public debt pose great and long-term threats that, unless we face up to them now, may be with us for many decades. But restoring health to financial institutions is also key to regaining the confidence of consumers and returning economic growth, let alone taxpayers’ money.
In your priorities you discuss the importance of the supervisory framework. I would add that regulatory clarity is vital. These industries are, as we all know, global industries. The capital, the talent and the individual enterprises are highly fluid. They need workable and defined legislative timetables, prioritisation of legislation and proper consultation.
I welcome your commitment to work alongside the G20, because if we get out of step and go unilateral in the EU we risk not only putting borrowers and investors at a competitive disadvantage but also causing industries to relocate outside..."@en1
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