Local view for "http://purl.org/linkedpolitics/eu/plenary/2003-03-12-Speech-3-124"
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"en.20030312.2.3-124"2
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".
This report does not address the fundamental issue of the problem of demand in the EU and makes no assessment of the economic and employment guidelines that addresses the current economic crisis and the increase in unemployment. The cause it suggests is the ‘rigidity of the European economy’, which prevents it from ‘reacting swiftly to external shocks’.
The problem lies in what rigidity we are talking about. We do not use the word ‘rigid’ of current monetary policy, which sets the same requirements for interest and exchange rates for countries with differing needs and different levels of inflation, thereby reducing regions’ ability to react to asymmetric economic events. This ability is further weakened by the Community budget, which does not make up the shortfall in Member States’ redistribution and solidarity needs.
We do not call the budgetary policy contained in the Stability Pact ‘rigid’, even though this determines levels of public investment, including the application of the structural funds, and endangers crucial public services and areas that are vital to innovation and productivity, such as investment in education, health and research and development.
The report insists on greater flexibility in pay and in the labour market, which contributes to pay disputes and to job instability. It wishes to see greater flexibility in the products market, in particular by pursuing the approach of privatising, liberalising and deregulating the markets. Hence our vote against the report."@en1
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