Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-07-05-Speech-4-165-000"
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"en.20120705.19.4-165-000"2
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"Since 2008, the developed economies have been mired in an unprecedented economic crisis. The current recession in Europe is the consequence of the disastrous situation of our public finances. We have therefore embarked on in-depth reforms to put in place sound and rigorous budgetary policies. Nevertheless, for sustainable growth to resume, it is imperative that this budgetary consolidation effort is associated with policies to invest in projects that promote the competitiveness of our companies and our economies. This was the objective of the national loan scheme (known as the ‘Grand Emprunt’) in France, and it is still the objective of the project bonds and the report voted on today. EUR 230 million, redeployed from the current budget, will be earmarked to guarantee private bonds issued to finance investments in projects to further growth and job creation, such as in the fields of transport, energy and information and communication technologies. This report, which has been under negotiation for almost a year, owes nothing to the election of President Hollande and his meaningless and misleading rhetoric on growth. The political recovery of the socialists should not be at the expense of the credibility of the time-consuming and exacting work of the European institutions."@en1
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