mr president the crisis we are dealing with is not a crisis the system but a crisis the system an economic system crisis and a crisis of democracy as well
not only has financial credit contracted but also social credit
we can already see in the streets of our european towns the signs that warn us of the mistrust and unrest at social level which could lead towards political and social upheaval
therefore a social european union summit leading towards a european pact on employment is a must
a social summit should agree among other things that those companies laying off employees should not distribute dividends that transnational companies must negotiate not only with national trade unions but also with european trade unions that there cannot be business profitability without social solidarity
this global crisis is aggravated by a crisis of european integration
there are member states hosting mother-company economies and member states with economies of subsidiaries
the former are members of the euro area the latter are not
programmes to facilitate the stabilisation and integration of the latter are crucial for the survival of the former
the european union cannot survive with new demarcation lines
