Global Biz
EU vows to continue stimulus plan
(Xinhua)
Updated: 2009-10-30 00:46
BRUSSELS: The European Union (EU) stressed Thursday that it was not time to give up the stimulus plan for economic recovery, vowing to act together with employers and trade unions to fight the global economic crisis.
At a press conference held after the Tripartite Social Summit for growth and employment, European Commission (EC) President Jose Manuel Barroso said: "We all agreed that we must continue with the implementation of our stimulus measures and maintain a strong focus on jobs."
The summit brings together government, business and trade union leaders to discuss challenges facing Europe.
Barroso stressed that it was not the moment to abandon the efforts for recovery and the three parties needed to implement exit strategies in a coordinated way "because the long-term consequences of excessive public debt for the economy and for employment would be disastrous."
| |||
"We listen carefully to the concerns and suggestions of social partners," Reinfeldt said, adding "we need to keep up this dialogue in the future."
Earlier at the summit, Director General of BusinessEurope Philippe de Buck warned that difficult challenges still needed to be addressed though recession might be drawing to a close.
John Monks, general secretary of European Trade Union Confederation (ETUC), said at the summit that ETUC's biggest worry currently was that EU governments would act prematurely and choked off the recovery.
"Don't exit, don't panic" was the ETUC message to the European Council and the European Commission, Monks said.
After the Tripartite Social Summit, leaders of the 27 EU member states will meet later on Thursday for a two-day summit to discuss climate, finance, EU institutional and economic issues.
