kfajdsl/voxpopuli huggingface dataset:
during the european council i confirmed that the commission will bring forward proposals under article one hundred and twenty seven regarding the conferral upon the european central bank of banking supervision
these decisions represent the result of the recognition of the need for solidarity with responsibility.
whole. the process must therefore combine the necessary deepening of the euro area and its openness towards the member states who want to join the euro with the necessary safeguards for those who have an opt
it is only natural that on some issues there was a vigorous discussion even when the evidence of loss of competitiveness inside the single market and internationally makes a clear case for action in the interest of our citizens and their jobs.
parts. it does not mean that the crisis is over far from that but it does mean that there is now an expression of the political will to move ahead to respond to pressing short term issues as well as to map out a vision of europe in the longer term. the contributions this house has made to this end have been great and we welcome
a long and complex negotiation is still ahead of us but there is now momentum for a substantial outcome in reasonable
union. this is the logical consequence of the need for deeper integration to match our growing interdependence and need for financial stability.
to come. let me end
this will hopefully allow us to move towards an interinstitutional agreement to prioritise and speed up the relevant pieces of legislation as i proposed in this house some weeks ago and as the european parliament president made very clear in his offer to the european council.
progress. there is no quick fix no magic fix and there will be no magic solutions.
it was therefore important that heads of state and government decided on the compact for growth and jobs. this compact is based very largely on proposals put forward by the commission and on ideas defended by this house some of them since last year or even some years before.
you. it would indeed be a strong political and economic signal if we could reach agreement on the mff by the end of this
it turns intentions into concrete action with financing commitments and sets out the levers for mobilising policies and funds both at european level and at national level. i am very pleased that elements i have long been advocating at eu level are now becoming reality namely boosting the lending capacity of the european investment bank you will remember when i mentioned this here in the state of the union address
let me just reiterate in this context our conviction that moving to enhanced cooperation on the ftt does not mean that the debate on the ftt as an element of a new own resources mix is closed.
as the aforementioned report puts it addressing these shortcomings is particularly important for the euro area given the deep interdependences resulting from the single currency.
world. the first measure is to allow for direct recapitalisation of banks by the esm under appropriate conditions once a single supervisory mechanism for the euro area is
yet despite those difficulties this european council and euro area summit has for the first time tackled all the elements of a comprehensive response in one and the same meeting namely by agreeing on measures to boost growth and jobs by setting out the next steps for further deepening of economic and monetary union and by deciding on short term stabilisation measures.
own; all of us commission parliament and council need to work together and work together fast.
time. this house has a full and vital role to play in this process and the commission will continue to work very closely with
let me underline the importance of this statement having been endorsed by all twenty seven member
this must of course be done and must preserve the unity and integrity of the single market in the field of financial services whilst allowing for specific differentiations between euro and non euro area member states on those parts of the framework that are preponderantly linked to the functioning of the emu and the stability of the euro
and as the causes of the pressure differ so do preferences for potential solutions.
this was recognised last week and the conclusions acknowledge the need to improve cooperation to ensure the timely implementation of the growth compact.
we all know that this is an undertaking that has to be built step by step over several years. this european council has now asked for a specific and time bound road map to be worked out by the end of the
market. let me emphasise that these differentiations cannot go just in one way. because it is so important i want to make it crystal clear they must respect the opt outs from the euro area but they must also respect the fact that other member states not yet in the euro will want to join as soon as they meet the conditions.
ahead. however let us recall that all of this is work in
the eu budget is our most important instrument for targeted investment and is an indispensable tool for growth and jobs in europe.
it would be an additional element of commitment and credibility on the delivery of our policy plans.
step. but a genuine emu must go further. we need to build a fiscal union a reinforced economic union and take steps towards a political
them. this is why i count on our close and intense cooperation also in the times
i really expect such an agreement to be swiftly concluded.
the magnitude of the agenda of the european council illustrates the magnitude of the work that is still
the commission as you know has always argued that consolidation must be accompanied by sustainable growth created by structural reforms combined with targeted investment.
the debate shows that the exercise is not just a technical and economic
ago. the community method and the role and tasks of the eu institutions must be the starting point for all further improvements in this respect and let us be frank it would be strange to say the least when we are discussing the future of our union including its democratic and accountability aspects for the democratic institution
this year the semester has come of age with a real multilateral discussion.
as we recognise that this greater solidarity requires greater responsibility we also understand that this requires more democratic legitimacy and political accountability.
following the single market act the commission will bring forward a further package of measures in the autumn the single market act ii so that this work can continue uninterrupted.
side. i have already spoken about the overall developments on the financial transaction tax in the previous debate.
in support of this heads of state and government gave a clear commitment to the realisation of what the commission has been calling a banking union' and we have done it already in our european semester communication. the banking union' will be designed to fully address the structural shortcomings in the institutional framework for financial stability.
the esm. thirdly we agreed on the possibility of the flexible and effective use of all instruments for all member states respecting their obligations under the european semester that is to say the country specific recommendations the rules under the stability and growth pact and the macro economic imbalances procedure.
it has done this at a very difficult moment.
action will be needed not from one institution on its
a stable euro is in the interest of the union as a
tasks. the strengthening of bank supervision became a central element of the consensus around this
the commission will work without delay on implementing them over the coming weeks and
and we reached a number of important agreements to this effect among the eurozone member states the.
we had our first discussion during a european council on the multiannual financial framework for the years two thousand and fourteen two thousand and twenty a discussion to which your own president made a significant contribution.
hand. we need reforms in our member states and collective action at the level of the eu and the eurozone.
several member states will launch a request for enhanced cooperation regarding a financial transaction tax with a view to its adoption by december.
but the actions will matter for all member states.
the last outstanding point the seat of the unified patent court was solved.
we agreed that the financial assistance to spain will be provided by the efsf until the esm becomes available and that it will then be transferred to the esm without gaining seniority status. the commission will shortly present proposals for a single supervisory mechanism for the financial sector
we found a balance between responsibility and solidarity.
it will also ensure that our parliament's views are taken into account and i look forward to working with you on this.
of a strategy jobs and growth throughout the union. hopefully we will finalise the work before the end of the year at the level of the council.
it is a breakthrough.
i call on your parliament to finalise the agreement with the council.
the euro group will examine the situation of the irish financial sector with a view to further improving the sustainability of ireland's well performing adjustment programme. to ensure the financial stability of the euro area we agreed to the possible use of existing efsf esm instruments in a flexible and efficient manner in order to stabilise markets for member states which are complying with our common rules recommendations and timetables.
this concludes my report on a european council meeting that achieved some significant results and took us a few more steps down our journey towards economic recovery.
a return of confidence for consumers and investors will itself lead to more demand and growth.
it underlined the importance of strengthening at the same time the democratic legitimacy and accountability of decision making within the
however we all know from past experience that this is one of the areas in which the european council will inevitably be called on to fulfil its role under article fifteen of the treaty of defining the general political directions and priorities'.
i am happy that this european council has been able to give it a real push.
at their informal dinner of twenty three may the heads of state or government asked me to prepare in close cooperation with the presidents of the commission the euro group and the european central bank a report on the future of the economic and monetary union.
time. it demands courage.
it will mobilise eur one hundred and twenty billion for immediate investment which will boost the financing of the economy and help create jobs.
the steps we took last week were important on a number of fronts.
the other eur sixty billion comes first from the structural funds which will be devoted to growth enhancing measures in the current period and second from the pilot phase of project bonds that will be launched this summer and will go to key initiatives such as energy
mr president last week's european council was about combining short term action to stabilise the markets and medium term action to stimulate growth together with a longer term vision on the way forward to strengthen our economic and monetary union. it was a sometimes difficult but in the end fruitful meeting.
the compact for growth is not just about injecting money.
it contains a number of elements work to be done individually by the member states which have already undertaken a number of commitments in that respect and work to be done together as a union including deepening the single market negotiating good trade agreements working together on tax matters and strengthening the european research area.
transport and broadband infrastructure.
it was another step on the long road to overcoming the financial and economic crisis and correcting the structural flaws of the euro area framework.
a eur ten billion increase in the capital of the european investment bank will increase the bank's overall lending capacity by eur sixty billion.
first we put together and decided on a compact for growth and jobs.
my second main point is that as eurozone leaders we reaffirmed our strong commitment to do what is necessary to ensure the financial stability of the euro area. in particular we affirmed that it is imperative to break the vicious circle between banks and sovereigns
emu. the european council has asked me to continue this work again in close cooperation with the presidents of the commission the euro group and the european central bank and associating the governments in this process.
in having a discussion on the principles and priorities without specific figures it was my intention to focus attention not on national advantages and disadvantages but on the strategic priorities for the union as a whole. the european council agreed that the mff needs to be at the service
the growth and jobs agenda requires a structural approach but also short term actions for financial stability.
the financial and debt crisis has exposed structural weaknesses in the emu's original design which must be addressed.
some solutions will be tailor made to the members of the eurozone and those who are expected one day to join the euro.
it will be implemented step by
in my view we first need to exhaust all possibilities under the current treaties then explore which avenues could require treaty change.
your parliament which adopted an important resolution on the mff will of course be involved in this process.
after decades of unsuccessful attempts this is a truly historic agreement.
it also shows a clear link between the longer term measures we are proposing and the short term actions we are taking.
we ask the council and parliament to consider these proposals as a matter of urgency before the end of the year.
the european council found finally a solution to the question of the european patent.
on the basis of article one hundred and twenty seven of the treaty so involving the european central bank.
the short term measures in both areas respect the fundamental approach of the eurozone's policies ever since the start of the crisis responsibility and solidarity.
seventeen we urged the rapid conclusion of the memorandum of understanding attached to the financial support to spain for recapitalisation of its banking sector.
it proposed an architecture based on more integrated frameworks for the financial sector for budgetary matters and for economic policy.
we tasked the euro group to implement these decisions.
we worked on growth and jobs on the one hand and on financial stability on the other
two thousand and twelve as i have said before the european council has not suddenly discovered the virtues of economic growth. relaunching growth and creating jobs has been a constant concern from the very first meeting under my presidency in february two thousand and ten right up until now.
mr president europe stands before one of the most difficult challenges ever to get out of the worst economic crisis of the post war period and at the same time take the european project forward.
these eur one hundred and twenty billion with very concrete proposals for eur fifty five billion must lead to concrete projects with rapid effects on jobs and growth particularly in the most vulnerable regions in europe.
i am also happy about the european council conclusions on the compact for growth and jobs and the detailed guidelines for the union's own actions and budget in this context.
the eu must also seriously attack the problem that for decades we have set aside insufficient resources for growth enhancing investments.
if they have committed criminal acts they should be prosecuted.
it is not me who wants to give them unlimited amounts of taxpayers' money to bail them out from the costs of their own profligacy.
this is the policy of the socialists and others that want to throw unlimited amounts of taxpayers' cash at the very same bankers that you keep telling us you want to criticise.
mr president welcome to the blackmail zone better known as the eurozone but officially now a no growth zone.
apparently european integration is all about money while prostituting the word solidarity'.
so what is now applicable law? we simply do not know.
people feel fooled robbed and they will resist.
look at finland and holland. in mediterranean europe we spread the feeling that there is access to more money so the pressure for reform will drop and people will ask why should we suffer if fresh money is on the way?
there is no substitute for it and no short cut to a transfer union.
the more you push for a transfer union the sooner the euro will break up.
the german press will know.
two thousand and nine the ilo itself reckons that two hundred and twelve million people worldwide were unemployed in two thousand and nine a thirty four million increase from.
two thousand and nine in other words a surplus of three billion turned into a deficit of sixty four billion taking sixty seven billion out of sub saharan africa's spending power.
the millennium development goals need between thirty four billion and forty five billion to be met and the banks received a trillion dollar bail out.
if you believe the commission trade dropped by ten in.
all parts of the world have suffered because of this crisis but the third world the developing world has suffered the most.
commissioner i have two questions for you.
now one prerequisite for a competitive and dynamic knowledge based economy is to have a flexible work force.
well they have brought in the agency workers' directive in two thousand and eight and this has been like pouring glue into the most flexible part of the labour market.
i am going to focus on the third question which is what strategy does the commission intend to pursue to enable eu industry to become more competitive?
well before there was the lisbon treaty there was the lisbon strategy and in the lisbon strategy the eu intended and i quote to become the most competitive and dynamic knowledge based economy in the world'.
the eu's series of ill considered directives stand in the way of a competitive and dynamic knowledge based economy emerging in the member states.
the agency workers' directive is yet another ill thought out and inappropriate eu directive which has yet again disproportionately and adversely affected the uk which has a third of all eu agency workers.
so what has the eu done to bring this about?
that is seen in the immoral salaries that some of them are getting and the grotesque bonuses they are also getting.
the second point i want to make is that the banks were primarily responsible for many of the ills which we are seeing nowadays but what happened?
a new theory came into being they were too big to fail. i think rather than be too big to fail many of them are too big for their own boots.
it was a notion based on moralistic preaching rather than on scientific evidence by the who and thankfully it was rejected by the commission.
no banker should be getting more than the prime minister of his country and we should work towards
it came to europe and to the rest of the world from the united states.
close them down. secondly there is a strong developmental approach in the doha round provided of course that we can keep it as it stands now and that should be the goal of the european commission.
so what we should do is become stronger ourselves.
secondly europe has a transformative economy which means that we have to import to be able to export.
whether you are a believer or not looking back into history it is thanks to international trade that our countries have become prosperous.
it falls on its knees in front of the speculators and demands that the countries worst hit by the crisis like greece make savage cuts in workers' wages pensions and public services.
this crisis of world capitalism is enormously exacerbated by the activities of the financial speculators on the world markets.
we need to replace it with a system of human solidarity based on the values of democratic socialism.
madam president world capitalism is experiencing its worst crisis since the great depression.
if you cut the ability of the working class to purchase goods and services then you cut demand for those goods and services which means you cut millions more jobs of workers who would provide them. that concretely is the prescription of the commission. therefore the tens of thousands of greek workers who marched yesterday were absolutely right.
not content with having precipitated the crisis these parasites now want to exploit it to rake in further billions.
as then it is the working class and the poor who are paying dearly for and suffering the consequences of this whether in europe or in the poorest countries on earth.
capitalism can only bring more suffering and crisis.
what do you think such a draconian programme of cuts is going to do for trade either in europe or in the world?
this crisis is having devastating consequences on world trade but the demand of the united nations financial summit last year for example that the conclusion of the doha round of trade negotiations is the answer is utterly wrong.
the international community thus avoided a protectionist downward spiral of the kind witnessed at the time of the great depression.
this strategy will have an effective external dimension in which trade policy plays a key role.
ten this did not happen by chance but is a result of strong political will expressed at various g twenty summits. it is also the result of systematic monitoring of trade restrictive measures by the wto the oecd and the commission.
this will also be a central theme of a communication on future trade policy priorities that i intend to present later this year.
where protectionist or trade restrictive measures are identified we will take action against them with all available trade tools such as our market access strategy or even the wto dispute settlement mechanism.
this will be a priority for me as trade commissioner.
the current multilateral negotiations are a development round.
in this respect i believe that we will need trade and more trade to preserve our social system of protection in europe.
this will be achieved through the free trade agreements that we are currently negotiating and by deepening trade and economic partnerships with key trading partners such as for example the us and china where the tec and the high level dialogue have already laid solid foundations.
we have bilateral and regional negotiations with developing countries and autonomous preferences in favour of these countries. we help them to contribute to and also tap into the global economy so as to raise living standards in a way that delivers both greater political stability and social progress.
as regards social issues i agree that trade must contribute to helping those people in our societies who suffered most from the economic crisis especially those who lost their jobs.
external sources of growth will be crucial to eu economic recovery. i therefore concur with you that european industry should target the new and fast growing emerging markets.
on the contribution of trade policy to economic recovery. first as regards the impact of the crisis on trade we should be relieved that world trade only decreased by.
in order to maintain this it is important to remain extremely vigilant.
by and large only a few countries resorted to trade protectionism.
but trade policy is about more than just competitiveness and growth.
open trade policy will be an important element both as a contribution to european economic recovery and as a vector for the external projection of our principles openness social and environmental protection and sustainability and constructive engagement on the world scene.
our european model of society the combination of a free economy with a high degree of social protection must be preserved in a sustainable way and this will take growth.
interesting is it not that one of the great political questions in the united kingdom when it comes to discussion of the euro is cock up or conspiracy.
it must have fiscal policy to have one currency and one interest rate.
this is what we are looking at with this document.
it must be part of the same phenomenon.