Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-24-Speech-3-316"
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"en.20100324.21.3-316"2
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"The developing countries have ended up the main victims of the financial crisis, in spite of the initial predictions which maintained that the developed countries would be hit hardest. The theory suggesting that developing countries are not tied in strongly enough to the global economy to be seriously affected by the crisis on the financial markets has been disproved by reality. We are seeing the crisis deepening in many developing countries, with unprecedented unemployment rates and exponential growth in government debt and budget deficits. While all this is going on, developed countries which have not felt the impact of the crisis very strongly or have had available effective instruments for mitigating its impact have experienced economic growth, albeit tentative. The economic crisis is already affecting the population directly, while unemployment is on the rise in developing countries. The efforts being made to bring about economic recovery by the states which continue to feel the effects of the crisis could affect whole social groups, as the recovery measures can only have a painful impact. EU funding programmes are the most comprehensive and inclusive among the financial aid schemes available globally. The Member States affected must benefit as appropriately as possible from the money allocated for tackling situations which restrict economic activity and have social ramifications."@en1
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