Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-06-13-Speech-3-423-000"

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"en.20120613.27.3-423-000"2
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"Mr President, Commissioner, ladies and gentlemen, in June 2010, the Heads of State or Government of the EU Member States finally acknowledged that the European Community needs a more closely coordinated financial and economic policy. At the summit, they ‘invented’ the European Semester, so to speak. It is perfectly right that members of the Economic and Monetary Union should not simply consider how their policies affect businesses, workers and consumers in their own country. A European perspective is needed. An internal market without a coordinated economic, wage and social policy may tempt Member States to create short-term growth and jobs at the expense of neighbouring countries. Such imbalances can cause monetary union to fragment, both economically and politically. That is precisely the situation currently facing the EU. The German economy has cut the ground from under its neighbours’ feet for years. There has been no stimulus from investment and wage growth. Instead, Berlin has brought the euro area to the brink of collapse with a decade of aggressive export policy. It is therefore gratifying that the Commission is now slowly wising up to this core problem of the euro crisis in its country-specific recommendations. It is therefore right and proper that the Federal Republic is called upon to invest more in education, research and child care and that the Commission demands that it put a stop to the abuse of so-called ‘mini jobs’ and adapt wage growth to productivity growth. This is a belated but important insight. I hope, Commissioner Rehn, that you will put this demand vehemently to the German Government, even though there is no formal procedure for surplus countries."@en1
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