Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-07-06-Speech-2-950"

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"en.20100706.24.2-950"2
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"Mr President, today we are discussing the economic and financial crisis, but can we really learn from the lessons of this crisis? Inadequate regulation in the United States of America, when banks gave loans to insolvent clients who were unable to repay these, inevitably led to the toxic loan crisis and we will continue to feel the consequences of this throughout the world for a long time to come. Therefore, European Union regional policy is becoming a key part of the Economic Recovery Plan, constituting the main Community source of investment in the real economy, but the EU lacks effective mechanisms for economic coordination and balanced growth. Cohesion policy, through the Structural Funds and other actions, is of prime importance. Regional policy is not just a means to immediately damp down the negative impact of the economic and social crisis, but is also a long-term policy for combating the structural problems revealed and created against the background of the crisis, particularly as regards competitiveness and employment in the Member States. It is also important for Lithuania to recover from the crisis as quickly as possible and to devote particular attention to increasing competitiveness and employment in the Member States."@en1

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