mr president for all the real suffering there is a light-hearted definition of recession
it is when you go to your bank machine to withdraw money and a sign flashes saying insufficient funds available and you are not sure if it means yours or theirs for all the dark warnings about splits and strife this european council has produced a positive package and i congratulate the czech presidency on that achievement
we have a pledge of more money from the imf a promise of more support for europe's most troubled economies and an agreement on moving ahead with european supervision of the financial system
all these are welcome
and i was particularly pleased to see that the council has saved mr barroso's bacon by transferring five billion unspent euros into the recovery plan
investment in transport infrastructure and broadband connections will create jobs now and prepare europe for the future
meanwhile money going to the nabucco pipeline will ease our troubling energy reliance on russia
we need a clear assurance from the president-in-office that funds from the eur five billion will actually reach that project but also that investment in gas supply infrastructure will not be a substitute for renewables research
green growth remains essential for our citizens <unk> now and in the future and so do the principles embodied in the lisbon strategy flexicurity the knowledge-based economy employment regulations that are fit for purpose these are key to a competitive economy and a successful single market
it is to the council's great credit that the protectionist language of the past cast no shadow over its conclusions
but for all the apparent agreement a niggling nuance remains over member states priorities
on the one hand we have those who focus on robust regulation at international level and on the other those who lay stress on a strong stimulus package
this is a false choice
of course we need supervisory structures with real regulatory bite but so too do we need counter-cyclical measures to deal with the realities of recession
the long term and the short term both must be addressed
our leaders must be clear about that at the g twenty summit
if we cannot agree on our common cause then we cannot hope to punch at our collective weight
america will come to the g twenty with her own agenda
we must arrive with ours and together reach a deal that delivers for all
president-in-office last week at the council you barely discussed the legal basis on which the next commission will be formed but it is no longer only ireland which is unlikely to ratify lisbon
i therefore urge you to convene the leaders of council commission and parliament before this house rises in may to agree on how to compose parliament and commission with legal certainty
there is a moment president-in-office in the famed melody in smetana's where cello and bassoon rise in crescendo from lugubrious depths to reach a seemingly impossible high note
that moment has passed for your government
for europe it is yet to come
see to it that domestic difficulties do not sap your stride
