President Barroso calls for a European consensus to restore confidence
President calls for a European consensus, based on fiscal consolidation, structural reform and help for the unemployed to boost economic confidence and to help Europe exit the crisis.
Today in the European Parliament President Barroso called for a European consensus to help restore confidence, break the vicious circle of lack of confidence and boost economic activity.
"This is the time to develop what I could call a European consensus: if we do not pull together, we will be pulled apart. We need a consensus built on practical steps to resolve the crisis. A consensus not just on the need for growth and jobs, but on the means to achieve this. A consensus for an economically more competitive Europe and a socially more inclusive Europe", the President said in his speech.
The forthcoming European Council is the occasion to focus on Employment creation and measures that will restore lending to the SMEs.
On employment the Commission has taken many measures including reprogramming €16 billion of structural funds. Further steps are needed from the member states: "more work is needed and more work is already underway because unemployment affects not hundreds of thousands but millions across Europe", he added.
SMEs in particular face a lack of access to credit. "Excessively tight access to credit remains a key obstacle to the revival of economic activity – especially in our most vulnerable Member States", the President said. Pursuing a banking union should help the return to normal lending conditions.
Confidence is also important. Savers are not prepared to invest and there is a lack of consumption. A European consensus, based on fiscal consolidation, structural reform and help for the unemployed would help boost confidence, spurring investment and lead to growth and jobs.