Debate: Conclusions of the European Council
– Mr President, if the problem of the European economy were that our public spending is too low and our deficits too small, we would have no problems at all. I want to say this in response to the debate here, as it sounds as if we could solve our problems by increasing public spending and increasing the deficits, thereby achieving social cohesion and economic growth.
We have seen the contrary: that uncontrolled public spending and big deficits are undermining social security and hindering growth, and creating the austerity of increasing interest rates. That is the reality, and those who believe that increased public spending is the solution to our problems should just look around and take a look at our problems.
On the other hand what we need to do is to create a new way of stimulating the economy. I think it is important for the Commission to understand that the way to social cohesion and social security does not run parallel to the policy for economic growth. Economic growth and new jobs are the key issue in order to achieve social development in Europe that we can all be satisfied with. That is why I would like to urge the Commission to proceed with the reforms for the internal market, for competitiveness in the Member States and for making the European Union the biggest market in the world.