Speech to Parliament 15th Feb 2012
With the Greek and Italian Debt crisis under the burden of the Euro of course unemployment is rising. Spain has over 40% youth unemployment, and you want more Europe!
Employment policies should be to cut regulations, by half at least, as the target for 2020, instead of which you propose more legislation.
If you want growth and jobs stop promoting the failed Euro. look, what is has done to Greece. Set them, and others free, free to reorganise their own currency and to set their own interest rates.
Remember Euro forerunner, the ERM? My country was in that project, interest rates rose and so did unemployment. Finally interest rates went up to 15%, totally unsustainable, but at least the government came to its senses and withdrew from the ERM. That was on "BlackWednesday" in 1992, but it should be remembered as Freedom Wednesday, for interest rates fell, employment gradually recovered and we entered a period of increasing economic growth.
That' the model you want.
Derek Clark MEP Brussels 15th Feb 2012