Best Growth Stock – The crisis in Europe is a trust issue, warned on Thursday at the World Economic Forum in Davos several European political leaders.
“Lack of confidence was evident, not only did not trust markets in Europe, but also the governments,” said Prime Minister of Ireland, Enda Kenny, in a debate entitled “Rebuilding Europe ‘after the debt crisis, which has entered its fifth year, and that has shaken the European Union (EU) and one of his most visible achievements, the euro.
However, Kenny has seen in recent times “signs of returning confidence” following the agreement of fiscal union pact agreed at the summit of 8 and 9 December by all EU leaders, except Britain, the advancement of entry into force of the European Stability Mechanism (MEDE) or the latest actions of the European Central Bank (ECB) to alleviate the problem of liquidity in the market.
“Today’s crisis is a crisis of confidence” in the European Union and European finance, said Polish President Bronislaw Komorowski, who warned that could be overcome “if we had the courage to look at us inside.”
Otherwise, the crisis “could lose (to Europe) its leadership position in the world,” he said.
Danish Prime Minister, Helle Thorning-Schmidt, who holds the rotating EU presidency, said “the heart of the problem is not Europe, but the lack of discipline in the budget for members’ pride before the” single model cooperation “in Europe, whose flag the rule of law and must be preserved.
What is needed is more Europe, he said, to resolve the crisis. “We had very little Europe and this explains the problems we have,” he said, before remembering that it is necessary “to preserve the way of doing things in Europe” and “strong institutions” to enforce what the leaders of 27 countries members decide.
The Finnish Prime Minister Jyrki Tapani Katainen, advocated to avoid the “intergovernmental” to lead the EU, open criticism of the role played by Germany and France in this crisis.
“You need common rules” and that “the European institutions to ensure their proper functioning and implementation,” said refuting the growing voices calling for a reconstruction of Europe to make it more efficient.
The debt crisis is leading the world economic slowdown and the European future focus much of the agenda for this year’s Davos, which opened on Wednesday the head of the German government, Angela Merkel.
British Prime Minister, David Cameron, was followed on Thursday in the platform from which railed against the lack of competitiveness of eurozone members and against his lack of action to resolve the debt crisis.
Cameron proposed quick forgive debt of Greece, recapitalize banks and to establish a firewall to protect the states.
“This is what we would understand the difference between feeling and perspective,” he said in a veiled criticism of Merkel timid strategy that advocates for reform and rejects sovereign mutualisation of the eurozone.
The future of Europe will refocus the interest of Davos, which brings together the cream of politics, economy and global enterprises, this Thursday, in another discussion of a less political tenor to address issues such as growth, innovation and job creation, burdened by the debt crisis.
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