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At the"South for Development" Conference

Martin Schulz states that Mediterranean people are as clever as the people of northern Europe

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The President of the European Parlaiment Martin Schulz spoke at the conference "South for Development" which was held at Athens Concert Hall. He stated that southern European countries are countries full of opportunities.

The proposal, named "Growth for the South", seeks to revitalize real economy through an ambitious plan that includes jobs for young people, a public investment increase in strategic sectors, the materialization of the Banking Union and the creation of a common space with all Mediterranean countries.

The parliamentarian insisted on the fact that the key to carry out the project bases on recovering the trust of citizens in regional institutions and in their our future and also recovering that of investors regarding countries of the south such as Greece, Spain, Cyprus, Italy, Ireland and Portugal.

The President Martin Schulz, during his speech developed four proposals for dealing with the crisis:

  • The discussion for tackling the problem of youth unemployment. 
  • A credit program and an investment strategy for SMBs which plays an important role in employment. As noted by Martin Schulz, these businesses have no access to funding because ECB lends with 0.5 percent and the banks don’t feed the businesses and engage themselves in speculation.
  • The Mediterranean cooperation with the countries of Northern Africa.
  • The completion of a sustainable banking union in order to for the banks to rescue banks and to break the umbilical cord between bank and government loans.

He expressed the view that investor confidence comes back to Europe, underlying that there was lack of confidence in Europe, but he stressed that the people of the Mediterranean are as clever as the people of northern Europe.

Of interest

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