Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-02-18-Speech-3-179"
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"en.20090218.22.3-179"2
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".
The European Economic Recovery Plan is now in place. The crisis is a general problem, but protectionism and the promotion of national industries and employment is creeping in. The fundamental freedoms of free movement of labour and free trade are being put to the test. The crisis is following different paths in different countries. In the recently emerging economic tigers of the European Union, which include Bulgaria, the banking system is relatively stable, unemployment levels are not high, there are highly-skilled workforces and stable currencies. In view of the dynamics of the crisis, I appeal for the recovery plan to be updated to be more in tune with the real economy. At times of crisis, capital looks for low-risk areas, and there is the chance to invest in new greenfield technologies rather than in unviable industries. The potential of the last economies to fall into recession should be used to revive them first and, with the help of this funding and know-how, they can become centres of stability around which the economic and financial system of the European Union can more quickly recover."@en1
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