Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-03-11-Speech-3-086"

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"The economic crisis has now reached Europe. First, it affected developed economies, then it spread to developing and emerging economies. The latest forecasts for 2009 predict economic growth at a level of –1% or lower. We find ourselves, therefore, in one of the most serious recessions ever to affect the European Community. I agree with the rapporteur that individual measures taken by countries are now not enough, even if they are supported by transfers of capital to the sectors most endangered by the crisis. Our economies are integrated with each other, and the crisis is a global one, and this is why the recovery measures proposed must also constitute a response which is global in character and extent. In addition, they must enshrine the fundamental principle of the EU, namely the principle of solidarity. Only this will allow us to retain territorial and social cohesion within the EU. I think that at such a time of crisis, the principle of solidarity is also gaining a new political dimension. Furthermore, I endorse the concern expressed in the report for ordinary people caught up in the crisis. We must make loans available once again to families and firms and, most of all, to SMEs, which are the cornerstone of the European economy. Only such an objective, together with protection of citizens’ savings, justifies the use of public funds for a rescue plan. If, as part of the European rescue plan, we could also manage to put an end to tax havens, the fight against the crisis would surely be easier and more effective."@en1

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