No C 105/38 Official Journal of the European Communities 26. 4. 79 
boosted by the secondary effects of these measures. Such a 
policy would be tied in with the 'programme for future 
investments', which would thus be of a medium-term nature 
and would, to that extent, differ fundamentally from previous 
short-term economic programmes. It should be borne in mind in 
this connection that there will be no shortage of urgent work in 
the foreseeable future (quality of the environment, urban 
renewal, development of new technologies for conserving 
energy and raw materials, better services for the underprivileged 
sections of the community). 
4.3. In passing judgment on the two strategies referred to in 
points 4.2.1. and 4.2.2. - both of which strategies are aimed at 
generating more economic growth - the following should be 
taken into consideration. 
4.3.1. The only way to put public finances on a permanently 
sound footing is through stronger economic growth, i.e. an 
increase in revenue-raising capacity and a reduction in the 
volume of transfer payments to unemployed persons. 
Experience has shown that any attempt to reduce the budget 
deficit by cutting government expenditure (investments) will 
hamper the growth of production and lead to higher deficits in 
the medium-term. Pressure on the budget could be eased if a 
number of future measures were carried out in cooperation with 
the private sector (joint ventures). 
4.3.2. The long-term move in the direction of a shorter 
working week — interrupted in the past few years — should be 
continued. This would be in keeping with the wish of many 
people to enjoy more free time (holidays, flexible retirement 
age) in order to improve the quality of their life. It would be 
mistaken, however, to regard this measure as being the main 
solution to the problem of unemployment and to give up the 
task of generating more economic growth. 
4.3.2.1. Doubts as to whether Government economic policy 
ensures sufficient growth from an employment angle cannot be 
dismissed outright. Therefore, the shorter working life - in all 
its various forms - may obviously be considered a further way 
of solving unemployment. It should be borne in mind in this 
connection that more free time also increases the demand for 
consumer goods and that longer periods of vocational training 
make workers more flexible and improve their job prospects. 
4.3.2.2. A frequent argument against the enforced shortening 
of the working life is that it puts too much pressure on 
production technology, workers and firms, especially the 
smaller ones. It is therefore not a suitable way of reducing 
unemployment. 4.3.3. Measures need to be taken to encourage the 
geographical and occupational mobility of the labour force so 
that structural discrepancies between supply and demand on the 
labour market can be lessened. This, however, will not solve the 
problem of the overall shortage of jobs. 
5. Outlook 
5.1. Whether the present upturn in economic activity will 
lead to sustained, adequate growth depends largely on whether 
the following conditions are met. 
5.1.1. The Bundesbank should refrain from either a big 
expansion or a big reduction in bank liquidity. If it does so, then 
growth of the money supply - which has been very vigorous in 
1978 - will slow down of its own accord. Calls are frequently 
made for measures to contract the money supply on the grounds 
that the continuous reduction of the velocity of circulation of 
money points to the build-up of a considerable inflationary 
potential. But this is not a valid argument, rather the reduction 
in the velocity of circulation of money that over the past few 
years has accompanied the fall in interest and inflation rates is 
largely due to a process of normalization. 
5.1.2. Wage policy should not deviate too much from the line 
adopted in 1978. A strong upward movement would refuel 
inflation and/or bite into profit margins. A strong downward 
pressure, on the other hand, would hit the real purchasing 
power of private households and thus also sales. 
5.1.3. The receipt of more orders by firms should be used as 
an opportunity for increasing capacity, creating new jobs and 
training skilled workers and not for making excessive price 
demands. For this to happen, however, firms must be able to 
count on the Government not reverting after 1979 to a 
restrictive policy towards expenditure — and especially towards 
investment. The building trade would be directly affected by 
such a move, while other sectors of the economy would also 
suffer indirectly. 
5.1.4. An adequate rate of sustained economic growth can 
only be achieved if there are no unduly great disturbances on the 
foreign trade front. There is no international monetary system 
which in itself provides absolutely reliable protection against 
upheavals on the foreign currency markets and the importation 
of inflationary and deflationary pressures. However, it is 
possible to find a justification for the planned European 
monetary union in the fact that the participant countries 
consider it to be an obligation to cooperate more closely than in 
the past and to jointly create the basis for economic growth 
coupled with as little inflation as possible. 
Opinion on the draft Council Regulation on the importation free of Common Customs Tariff 
duties of materials for the use of the blind and other handicapped persons 
(Doc. COM(78) 348 final) 
The text referred to the Committee has been published in Official journal of the European 
Communities No C 187 of 5 August 1978, page 2. 
A. LEGAL BASIS FOR THE OPINION 
On 4 August 1978 the Council referred the abovementioned proposal to the Economic and 
Social Committee in accordance with Article 198 of the Treaty establishing the European 
Economic Community. 
26. 4. 79 Official Journal of the European Communities No C 105/39 
B. OPINION OF THE ECONOMIC AND SOCIAL COMMITTEE 
The Economic and Social Committee prepared its opinion on the above matter at its 163rd 
plenary session held in Brussels on 29 and 30 November 1978. 
The full text of the opinion is as follows: 
THE ECONOMIC AND SOCIAL COMMITTEE, 
Having regard to the Treaty establishing the European 
Economic Community, and in particular Article 198 
thereof, 
Having regard to the request made by the Council of the 
European Communities on 4 August 1978 for an 
opinion, 
Having regard to the decision taken by its Bureau on 
18 October 1978 instructing the Section for Industry, 
Commerce, Crafts and Services to draw up an opinion on 
the matter, 
Having regard to the opinion issued by the Section for 
Industry, Commerce, Crafts and Services at its meeting 
held on 8 November 1978, 
Having regard to the oral report submitted by the 
rapporteur, Mr Marvier, 
Having regard to the discussions at its 163rd plenary 
session held on 29 and 30 November 1978 (meeting of 
29 November 1978), 
HAS ADOPTED THE FOLLOWING OPINION 
unanimously: 
1. General comments 
1.1. The Committee fully endorses the aim of the 
draft Regulation. The Community ought to make more 
rapid progress in this field than third countries. 
1.2. The Committee therefore approves the extension 
to other handicapped persons of the measures relaxing 
import conditions which have hitherto been reserved solely for the blind; it emphasizes that no distinction 
should be made between categories of handicapped 
persons. 
1.3. With this in mind there must be some doubt 
about the reasons for the restrictions imposed on other 
handicapped persons, as set out in Title II of the draft 
Regulation. However, it is clear that materials for the use 
of the blind are easier to define and that many articles for 
handicapped persons also constitute a commercial 
market; the limits of such markets are not precise and 
their economic importance is not insignificant. 
1.4. It nevertheless wishes that a way still be sought to 
establish a single system for the benefit of all categories 
of handicapped persons. 
2. Specific comments 
2.1. Article 3 (1) (b) 
2.1.1. For a derogation from the condition of 
equivalence this paragraph refers to Article 7 (2), which 
refers to procedures to be defined subsequently. 
2.1.2. The Committee wants precise criteria to be 
established in this area so that the provisions of Article 3 
are applied uniformly throughout the Community. 
2.2. Article 6 (1) 
2.2.1. The Committee notes that the definition of an 
operation effected 'on a non-profit-making basis' is 
derived from national law and that this concept is often 
interpreted broadly by associations or other groups. 
2.2.2. It calls the Commission's attention to the need 
for this provision to be applied correctly. 
Done at Brussels, 29 November 1978. 
The Chairman 
of the Economic and Social Committee 
Fabrizia BADUEL GLORIOSO