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29 May 2012

Barroso speech at the "Mission Growth" conference


In the speech that opened the "Mission Growth" conference, President Barroso said: "Now is the moment to go further with our actions for growth for the benefit of Europe's citizens". He also stressed that stability and pursuing sound public finances is not an option but a necessity.

"To this end, we will continue pursuing our roadmap for financial stability, ranging from the finalisation of the pending proposals on regulation and supervision, like the Capital Requirements Directive, to banking recapitalisation and banking resolution. Indeed, we are now finalising a very important proposal on legislation on a common framework for the recovery and resolution of banks and investment firms", the President continued. "With this, the European Union will be the first jurisdiction in the world to have delivered in terms of commitments set in the G20 regarding financial supervision and regulation."

The Commission will also monitor the impact of tight budget constraints on growth-enhancing public expenditure and on public investment and, if necessary, give guidance on the scope for possible action within the boundaries of the European Union and national fiscal frameworks. In the coming months, the Commission will issue a report on the quality of public spending which will deal with this very important issue.

Full speech



© European Commission


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