Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-06-23-Speech-3-045"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2010-06-23"^^xsd:date2
dcterms:Is Part Of	lp_eu:Conclusions of the European Council meeting (17 June 2010) (debate)2
dcterms:Language	"el"^^xsd:language2
lpv:document identification number	"en.20100623.9.3-045"2
lpv:hasSubsequent	lp_eu:2010-06-23-Speech-3-0462
lpv:speaker	lp:Stavros Lambrinidis2
lpv:spokenAs	member; S&D (2009-07-14--2011-06-16)3 substitute; AFCO (2009-07-16--2011-06-16)3 unknown; Panhellenic Socialist Movement (2009-07-14--2011-06-16)3 substitute; Delegation for relations with Iran (2009-09-16--2011-06-16)3 substitute; LIBE (2009-07-16--2011-06-16)3 member; Delegation for relations with the United States (2009-09-16--2011-06-16)3 vice-president; European Parliament (2009-07-14--2011-06-16)3 member; Parliament's Bureau (2009-07-14--2011-06-16)3
lpv:translated text	"Mr President, since the euro was introduced, the economies of the North and of the South have diverged instead of converging. The main reason is that they were very differently structured. The South was based on services, on the agricultural sector and on tourism, while the North was based on heavy industry and exports. The South should therefore have radically changed its economic structures in a few short years: instead, it grew through spending, through the cheap loans which the euro allowed and through excessive borrowing, while the industrial countries grew because they could not export more easily and more cheaply. That is why and where economic governance was needed. Its absence exaggerated both the development advantages of certain Member States and the development drawbacks of others. If the South and others are to break out of the vicious circle of recession, they must be able, in addition to making financial adjustments, to borrow more cheaply, so that they can invest in growth and exports, including through Eurobonds. Yet, it is precisely now that comparatively rich Germany is throwing itself into a programme of severe cuts, both by restricting internal spending and primarily by making itself more attractive to the financial markets than its partners. Such measures do not constitute a common European economic policy. They potentially turn the Member States into outright competitors for limited funds instead of solid partners and they put them on the same Procrustean bed, which exaggerates the advantages of some and the drawbacks of others, and puts some Member States in a very negative starting position in terms of achieving the – supposedly – common 2020 objectives."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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