45th Citizens' Dialogue, Barcelona, 23 February 2014.-
1. Europe is overcoming the crisis - Europe's strategy of "solidarity for solidity" is delivering
Solidarity for solidity:
Eurozone countries putting money in a common pot to help countries in
trouble is starting to work in Spain.
Spain successfully exited the
financial assistance programme on 23 January 2014 – after it received
€41,3 billion from the European Stability Mechanism in autumn 2012 and
after the Spanish state also injected €21 billion into the financial
sector.
Member States' far-reaching and sometime painful reforms are starting to pay off. Recovery is in sight.
Member States that were shut out
of the capital markets for years can now borrow again from private
investors at sustainable interest rates.
Spain for example can now borrow
from private investors for the lowest rates in years: in 2010: 3.93%,
in July 2012: 7.51% and today 3.7%.
Europe has made sure past
mistakes will not be repeated: The euro-area has created the European
Stability Mechanism with firepower of €500 bn to help members in
financial difficulties. The countries inside the euro-zone are also
coordinating economic and fiscal policies much more strongly now. That's
how we will be able to spot problems early and prevent them from
spreading.
Europe must stop accumulating debts
that will be a burden on the next generation. Debt-servicing in Spain
accounts for EUR 36 billion, or 8.2% of total state expenditure. This
means that Spain is currently spending more public money on debt
repayments than on investment in education or research and innovation.
This is not just a question of cost. It is also a question of the
country's long-term competitiveness.
2.Europe is fostering employment
Economic recovery prospects are good but they will not translate into jobs overnight. We still need to fight for employment.
The EU is not letting you down: fighting youth unemployment is our top priority.
The Commission is modernising
the Eures system to help Europeans find a job or an apprenticeship
everywhere in the EU and help fill the 2 million open jobs vacancies
The new Youth Employment
Initiative provides 6 billion EUR in the next two years: 1,8 billion EUR
have been allocated to Spain which would benefit more than 800 000
people in Spain.
Under the EU structural funds
for 2014-2020 Spain will receive some 29 billion EUR which will
contribute to jobs creation. This is the best source of foreign direct
investment!
3. Establishing a responsible financial sector in Europe so that taxpayers do not foot the bill for the mistakes of the banks
The Banking Union is not for
banks. It is for the citizens: we are ensuring that in future, banks
themselves will have to pay for their mistakes, not citizens. Thanks to
the Banking Union, big banks in Europe will have to put money in a
common pot that will be used when a bank is in distress.
The financial sector needs to
support the real economy. Banks need to focus on their core business:
ensuring financial liquidity for SMEs and households.
The never again motto: banks weakening the whole economy, taxpayers having to pay for banks’ failures.
4. European law protects EU citizens: no double pain in case of eviction thanks to the EU
There have been about 350 000
Spanish foreclosures since 2008 and at least a dozen of suicides and
many attempts. This is shocking.
No one applying for a mortgage
would even imagine that they could be evicted. In many instances people
had to keep on paying the bank for their debt even though they had
already lost their home: a double pain.
EU law is a safety net. It
protects the weak and vulnerable: the European Court of Justice ruled on
13 March 2013 that the Spanish law on Consumer Protection did not meet
the standards required by EU law, and did not sufficiently protect the
consumers. European law has protected the vulnerable consumer against
the inhumane, casino mentality of banks.
The Commission has also proposed
legislation to improve consumer protection in financial services so
that consumers are not ripped off by signing papers which they do not
understand – lured by the promise they could make money. Not the banks'
profits, but consumer choice must come first: based on clear and sound
information and professional advice.
5. 2014: Time to make a choice.
Huge changes lie ahead for our
Union. We will need to get a broad, truly European debate going before
we make these changes and set up new structures. And this year's
European Parliament elections are the decisive moment for citizens to
have their say in this debate.
2014 will be the year that
people across our continent – including all of you here today – choose
what kind of Europe they want to live in.
Your elected Members of the European Parliament have a huge influence. 70% of EU laws are co-decided by the European Parliament
The future is no matter of chance. It is a matter of choice. Elections are determined by the people who turn up.
I want to see turnout at the next elections surpass 50%. Here in Spain and across the European Union.
http://europa.eu/rapid/press-release_SPEECH-14-153_en.htm?locale=en
23/2/14
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