Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-03-13-Speech-2-562-000"
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"en.20120313.22.2-562-000"2
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"Mr President, efforts to stabilise national budgets are necessary, but they undermine immediate growth. Beyond the measures for a return to balanced budgets, a number of necessary structural reforms, such as Basel II, Solvency and so on, have further weakened the natural economic dynamic. Without investment, without growth, the recession cancels out the debt reduction policies, increases deficits, makes competitiveness and purchasing power collapse and, all told, we get the opposite of the desired result.
Investment in three priority areas is necessary to re-launch our economies: innovation, education and infrastructure. It is precisely at European level that these areas are most effective. Applying a pure logic of austerity at European level is to believe that each State individually will recover better due to restraint. The structure of the European budget, its use and its objectives are different from those of national budgets. Even though it is modest, this budget is still the best integrated anti-crisis tool and, as such, it must be energised, not restricted."@en1
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