kfajdsl/voxpopuli huggingface dataset:
between two thousand and eight and two thousand and twelve in the three programme countries that i mentioned before the cumulated unit labour cost growth was about ten percentage points below the euro area average.
in ireland greece and portugal current account balances improved by more than seven of gdp between two thousand.
this economic weakness was driven by declining private consumption and faltering investment in an environment of weak business and consumer confidence and financial market tensions.
two thousand and twelve these operations in combination with our measures to enhance the availability of collateral were pivotal in preventing a disorderly process of lenders' deleveraging and a large scale credit crunch. this action was instrumental in maintaining price stability.
later in two thousand and twelve a renewed confidence crisis in part reflecting unwarranted investor fears about the reversibility of the euro caused a severe deterioration in financial markets.
deeper economic union means more than fixing the financial system.
let me therefore turn to the ongoing adjustment in member states and the euro area more generally.
two thousand and twelve unemployment has reached unprecedented levels especially among young people.
sovereign bond and bank lending rates in some countries increased dramatically thereby impairing access to financing of the real economy.
we therefore welcome the proposal to conduct ex ante coordination of structural reform initiatives which should be implemented as a best practice benchmarking exercise.
during the past five years a number of euro area countries have seen a significant correction of their external and domestic imbalances.
thousand and twelve were years in which much of our focus was on the proper transmission of our monetary policy.
the adjustment has been mainly driven by an increase in average productivity largely reflecting labour shedding rather than by a reduction in nominal wages.
the current deepening of emu is essential in particular as regards banking union.
we expect a gradual recovery in euro area economic activity for the second half of this year but this scenario is subject to downside risks.
we have also seen some improvement in cost competitiveness which has contributed to the external adjustment.
but the lessons of the crisis have been learnt.
and eight and two thousand and twelve but a large part of this adjustment has been driven by a contraction in domestic demand triggered by the unwinding of long accumulated unsustainable developments and by the cyclical downturn.
the governing council remains firmly committed to its price stability mandate.
this has contributed to increasing the real cost of adjustment and the burden borne by the more vulnerable members of our societies.
this is an absolute prerequisite if we want to embark upon our preparatory work in a timely and effective fashion so that the ssm is operational by mid.
and the outlook for emu governance.
annual inflation rates have since declined to.
at the same time in ireland spain and portugal export performance has been very strong compared with the pre crisis period.
prior to the crisis member states did not internalise fully what it means to be part of a european monetary union.
since two thousand and eleven the ecb has taken a number of important measures to address severe distortions in the financial markets and to address fragmentation.
otherwise called omts. these have proved to be an effective backstop against unfounded fears of reversibility. strict conditionality contains moral hazard on the side of governments. it ensures that they will adopt the reforms that are necessary to secure their solvency
but new rules are only as good as the commitment to actually implement them.
reducing rents is not only a matter of efficiency in the adjustment process it is also a matter of equity in sharing the burden of adjustment.
the commission's intention to put forward a legislative proposal before the summer is highly welcome.
as i said before the repair of the transmission channel cannot be done by the central bank alone governments need to do their part.
i thank you for your attention and stand at your disposal for questions.
there are reasons why banks do not lend to their clients the first is that they lack funding;
let me say that there has been considerable progress in improving the funding situation of banks in strengthening their domestic deposit base especially in stressed countries and in reducing reliance on the euro system. thirdly almost half actually more than half of the net injection
break. this would allow internal preparations to proceed at full
fiscal consolidations are contractionary in the short term so the right question is not how to avoid them they are unavoidable because building on debt brings neither growth nor equity. there cannot be growth or equity that is sustainable in the long term through debt creation
it is. more generally the more oversized a banking sector is with respect to the economy where its banks reside the more conservatively the banks have to be supervised.
since their peak just before the announcement which means that the risk to taxpayers of the creditor countries has gone down.
its mandate is to keep price stability and through this to support the economy maintain confidence and protect the poor.
the ecb throughout its existence has delivered on price stability in a remarkable fashion.
where are these risks?
there has also been a very strong improvement of structural primary balances since. two thousand and nine problem countries are benefiting from a significant improvement in their cost competitiveness but that is the other secondary consideration.
of the ltro last year has been repaid.
it is absolutely essential.
so fiscal consolidation remains unavoidable.
gap. fill the gap between nominal wage behaviour and productivity.
frankly the example of other countries is not encouraging.
issues. i hope that the formal adoption of the ssm legislation can take place before the summer
the second is that they lack capital; and the third is that even though they have funding and capital they are fearful of lending because they think they are not going to be repaid.
we are not in the business of cleaning up struggling banks; we cannot solve deep rooted problems in the structure of europe's economies and we have to be quite clear about this.
secondly there is much less fragmentation than there was before.
let me be very clear growth is essential.
i was asked about what i said at the european council.
they will certainly not be encouraged to do so when there is a plentiful supply of labour resulting from an open door policy on immigration nor will they do so when they have the freedom to export jobs to the far east by relocating industry.
during the early years of the eurozone northern europe needed low interest rates to improve its growth.
the answer is that a common interest rate like a common currency value cannot be appropriate for seventeen different economies.
however would you encourage employers to increase wages above the market rate?
and this difference has become structural. the reality is that money has gone from the ecb to the banks to buy public debt. now some insolvent banks and states are full of liquidity but thousands of solvent smes are closing because of the lack of liquidity.
in order to unblock private investment for better employment.
and this is why we need to increase the use of public banks like the european investment bank to boost pro active investment as has already been done to an extent.
let us all blame the retail banks but it is the central banks where the cancer starts.
i am not totally convinced that you really care about them.
but they shall be the terrors of the earth'.
can you give me an assurance that you will do whatever it takes to get these poor people's money back?
can i make a plea for my friends and their families in cyprus?
politicians bankers and lackey bureaucrats should be arraigned at an international financial tribunal in the hague in the same way as war criminals.
at least we should have an ecb that treats public exchequers and taxpayers with a modicum of the generosity shown to the banks.
let me assure you that united kingdom politicians and central bankers are no less stupid than the people out here or the people in washington.
they have absolutely no idea and they are bankrupting the united kingom just the same way this organisation is bankrupting western europe.
yes i take your point very well.
president draghi has mentioned on several occasions here that european economies are not benefiting from the relaxed policy stance because the monetary transmission channel remains dysfunctional.
madam president you have said that you are determined to make sure that funds that have been injected into the economy find their way to financing the real sector.
so i like others would urge you to look at the injection site as the pain relief seems to be being absorbed before it gets to the site where it is most needed which is in the peripheral smes.
in the game of averages it must be win some lose some' not always win win' or lose lose' depending on where you are.
finally i know that transparency and central banking do not always lie comfortably together and that covert operations play a part but experience is now suggesting that on balance disclosure about ela operations is needed.
the new york stock exchange is booming but i am afraid it is yet another bubble.
we need the underlying realities to change.
we need supply side measures to turn around the situation productive innovative activities reduced tax burdens and user friendly regulation.
but we are doing the opposite more taxation. look at france the french government aims to introduce a super tax on the rich.
no wonder public support is melting away.
some central bankers think that they are a substitute for god if not yet replacing him.
they create money out of nothing;
they spread wealth without work.
once he was the god of the dollar. now he is regarded as the master of disaster.
there is no perfect model for a central bank to follow particularly in a time of unprecedented stress such as this.
however the ecb is in a particularly difficult position with so many different taskmasters and politicians seeking to influence it.
the one point that i can agree with in this report is that we need to strongly protect the independence of the ecb from political control.
madam president one of the favourite tactics of the european central bank in gathering more power for itself through the course of this crisis has been the writing of ominous but polite ransom notes.
for example to the governments of ireland and italy demanding austerity measures and bank bail outs or threatening the collapse of their banking systems.
it seems if the reports from cyprus are to be believed that the ecb and mr draghi have graduated to a new level of financial gangsterism.
clearly we need to improve the overall system that allows cars to be placed on the market the type approval system.
long term engagement at all levels of governance is key to making european cities smart well connected and green and the commission is ready to support the emergence of new ideas within our mandate.
in particular we are planning to pursue a more holistic approach to smart sustainable and resilient cities;
we are all becoming more and more aware of the multidimensional challenges that urban mobility presents. with the two thousand and eleven transport white paper the commission set the objective of a competitive and resource efficient urban mobility. the urban mobility package of two thousand and thirteen addressed in greater detail how to achieve these objectives but this report gives new impetus to the implementation of that package.
offer cities and innovative projects promoters support for reallife testing under horizon;
allow me to comment a little bit more and give you more information about our next steps.
let me now directly respond to some of your questions and comments. as regards freight by all means you have full support for that from me.
further support cities industry and ri by promoting a marketplace for trading solutions;
with parliament's support the commission will concentrate efforts in the area where eu action can bring added value but with full respect for the subsidiarity principle.
allow me also quickly to go back to the comment regarding cycling.
they are the stakeholders that can drive prosperity and offer quality jobs.
we need more european oversight effective control mechanisms and better quality and greater independence of vehicle testing.
these have proven to be a very useful instrument and show that voluntary instruments can work very well.
two the report reflects these challenges and proposes solutions that can be manifested.
the report showed that cities are of an evergrowing importance for all of us quite simply because more and more of us are living in the city eighty of europeans live in urban areas. so it is logical that we have to tackle some serious challenges in urban areas congestion
the report confirms that innovation in urban mobility offers huge opportunities.
both are key enablers for jobs and growth.
more generally the report recognises the incredible potential that digitalisation offers for individual mobility and city logistics.
digitalisation of transport is therefore a personal priority for me as well.
with urbanisation as a global mega trend i am convinced that it will really pay off and will contribute to the commission's agenda for growth and new jobs.
we fully agree on this point.
the third area is investment and innovation.
let us reflect together on how we can support cities in attracting more investment and how this investment can support innovation and how innovation can support sustainability.
it is comprehensive inspiring and i am happy to say to a large extent in line with the commission's thinking.
i will not go through all of them but will mention only three that i find particularly important at this point. first sustainability and urban mobility plans.
this is encouraging for our efforts to support cities through the exchange of best practices and guidance.
in fairness many citizens are now becoming more and more aware of the need to decarbonise as much as possible.
madam president it is important that the european union consider the great variety of all of our towns cities and rural areas when discussing policy and legislation.
this is an excellent and collaborative report that fully takes account of both the common and particular transport issues faced by people across the eu living in different urban communities.
i would like your comments on that point.
on road safety it is especially welcome that the report calls strongly for advanced traffic and speed management measures including enforcement.
as elected representatives we must recognise and act on the fact that a large majority of europeans think that road safety in cities is a serious problem.
many many cyclists and pedestrians are killed or seriously injured in our cities in europe every year.
what commissioner are you going to do about that? towns and cities are also often unequal places with extreme divisions between rich and poor.
as acknowledged by this report good public transport has important social and economic benefits as well as environmental ones helping people gain access to jobs and get out of poverty. socialists and democrats are delighted that many of our long term priorities that i have just highlighted are in this text and i urge all meps to vote for the amendment.
there is only one amendment to this report.
while the desire for better regulation is of course to be welcomed the commission has not completely withdrawn the proposals but instead left them in limbo pending the results of an internal evaluation.
there are a number of elements of the commission's proposals that are to be welcomed.
children in wales and the uk lose out so that the government can maximise the uk treasury rebate.
the long running school milk scheme has been a success but for the seventh year now children in my constituency in wales have missed out on the school fruit scheme because the uk opted out. learning healthy eating at school is essential.
obesity is a growing problem and schemes like this can help us tackle it.
i am here today to listen to your debate and will make sure that your position on this proposal is taken on board and conveyed to the rest of the college.
the process has been open and transparent and has taken due account of stakeholders' views and the positions of all institutions.
i understand that you did a lot of preparatory work and consultations with different parties in order to understand the real needs of those directly involved and who are affected by the proposal.
if you have had a chance to look at the draft report which was published on the commission website on twelve may you will see that parliament's position is very well reflected and will be updated based on your decision today.
i will duly inform you and the council of the outcome of this process and the further steps that are envisaged by the commission.
i am pleased to hear that the position you are voting on today largely supports the framework of the commission's proposal.
while there are certain elements of your position which go beyond what the commission has proposed namely on the list of core products the milk budget and the allocation criteria i take your position on board and i am confident that if we engage in further negotiations we will be able to come to a reasonable outcome.
on a daily basis this would give a child for example about a thimble full of milk each school day and a sliver of an apple.
now that would be an education!
eur two hundred and fifty million a year sounds a great deal of money but divided between the fifty five million under fourteen year olds at school in the eu it is worth eur.
i believe british taxpayers' interests and british agriculture's interest would be much better served if this cash stayed in the uk and was used to finance school trips to farms which in turn could use this budget to provide facilities for visitors including a classroom and a competent lecturer.
they should have the opportunity to pick some fruit and they should have the opportunity to ride safely on mobile vegetable picking and packing rigs observing people who really do understand what the word work' means.
in order for this to be meaningful the member states would have to co finance by at least tenfold and in that case this whole subject should be within their control in the first place.
i take on board the concerns that have been expressed as well in relation to bringing the council on board in relation to these proposals.
an inter relationship between urban populations and rural populations in relation to fruit and vegetables and milk products.
what the european union is doing to ireland is the equivalent of a burglar coming around to your house stealing all your money stealing all your food stealing all your goods and then giving you a little bit back bit by bit to feed your children.
but the question has to be asked how is this of the competence of the european union?
the eu is ever so slightly inconsistent on this. ireland has one hundred and thirty zero children living in poverty.
remember while this school scheme is going on last year ireland was forced to borrow in two tranches half a billion euros and then destroy it.
they are an excellent source of calcium for growing bodies and they are a valuable way to promote the milk and dairy industry.
i also recommend encouraging children to regard fruit and vegetables as an invaluable part of a healthy diet.
however worthy as those aims may be i am not convinced that it should be the responsibility of the european union and in particular the common agricultural policy to provide the money.
surely the basis of eu expenditure has to be spending only where there is a common interest that cannot otherwise be achieved at member state level.
the court of auditors has shown that funding these schemes through the eu budget is expensive to administer and represents poor value for money.
the promotion of healthy eating among children is an important and laudable objective.
in reality it should be said that member states should not need an eu scheme to prioritise initiatives aimed at making children healthier but recognising that these schemes are in place parliament should be using our efforts to make sure the schemes are as uncomplicated as possible and as fair as possible.
the principle of subsidiarity should mean that the key decisions should be made at national and regional level as it is here that the needs of local communities can be best addressed. i have to say that i have a fundamental disagreement with some of the committee amendments which would see more funds being spent on advertising eu involvement in the scheme rather than on promoting healthy living.
the scheme in my view is at risk of becoming a very expensive and elaborate pr exercise if these amendments are passed and i do not believe that this would be the most beneficial use of funds.
on the other hand amendments that we put forward would allow the scheme to be fair while minimising the wastage of public funds and increasing flexibility at national level.
we warned of the risks to businesses we warned of the risks to jobs and we warned about the serious effect that it would have on the environment caused by carbon leakage.
madam president the global recession and the faltering economy hampered by the continuing problems of the euro zone are undoubtedly having a negative effect on european businesses and therefore on european jobs.
closure of the plant will mean the direct loss of around seven hundred and fifty jobs and many more indirectly in a part of northumberland which is already afflicted by very high levels of unemployment.
before we become too self congratulatory we should look at the policies of our own eu institutions which are shouldering a large part of the blame.
i am talking about alcan the aluminium smelter. alcan is a smelter which earlier this month announced that it may have to close and it may have to close partly because it has effectively been strangled by eu legislation.
of course we want to reduce carbon emissions of course we want to avoid carbon leakage but we do not do that by exporting jobs and by exporting companies to other parts of the world.
now i realise that this debate is primarily focused on arcelor and on nokia but i also want to mention my very serious concerns about a large and important employer in my region of northumberland.
however it is not just economic troubles that are causing this painful rise in unemployment in all regions of europe.
i and many others warned about the knock on effects of ill thought out legislation such as this but our concerns were brushed aside by the greens and over zealous environmentalists whose fixation on reducing carbon emissions made them deaf to all of the arguments about economic and environmental damage.
employers like alcan and arcelormittal are at breaking point and one by one they are going to relocate to other parts of the world where they are not choked by the same cumbersome environmental legislation that we have here in europe.
four hundred it will have a huge impact on a community of seven zero inhabitants.
of course we can check that all the rules the commissioner referred to are being adhered to but we also know that in this same locality we have the huge development of offshore wind and carbon capture and storage and i was much impressed by what isabelle durant said.
it contains a large airfield where pilots trained in spitfires for the battle of britain.
how can we use restructuring and the funds that might be available to move into new technologies where we have an amazingly highly skilled technical workforce that is otherwise going to be at a loss greatly to the detriment of that local community? i know that my national government is not a huge fan of the fund but if it can be used in an appropriate and progressive manner it should be considered.