Extracts from the joint press conference by José Manuel Barroso and Joaquín Almunia on a Recovery Plan for growth and jobs
José Manuel Barroso, President of the EC, and Joaquín Almunia, Member of the EC in charge of Economic and Monetary Affairs, gave a joint press conference to present a comprehensive EU Recovery Action Plan for a coordinated response to the current economic crisis.
The EC proposed a sweeping stimulus package worth 200 billion euros, the equivalent of 1.5 percent of the European Union's gross domestic product, to help Europe's economy out of recession.
Governments should step up spending to focus on initiatives such as handouts to the poor and the unemployed, longer jobless benefits and more money for investments in small and mid-sized firms.
The package also includes plans to bring forward spending at the EU level on social programmes and investment in green technology for the car and building sectors. SHOTLISTLINK