Spain joins push for fulfilling Stability Plan

16th February 2004, Comments 0 comments

16 February 2004 MADRID - Spanish Prime Minister Jose Maria Aznar and the leaders of five other current or future European Union members sent a letter on Monday to the Irish presidency of the EU urging the fulfilment of the group's Stability Plan.

16 February 2004
 
MADRID - Spanish Prime Minister Jose Maria Aznar and the leaders of five other current or future European Union members sent a letter on Monday to the Irish presidency of the EU urging the fulfilment of the group's Stability Plan.

In the letter which was also signed by the premiers of Italy, the Netherlands, Portugal, Poland and Estonia, Aznar told Irish Prime Minister Bertie Ahern that as Europe begins to show signs of economic recuperation, "the economic strategy known as the Lisbon process must be renewed to create employment."

The six leaders said they would present a joint contribution at the upcoming EU summit scheduled for 25 March aimed at creating more and better jobs, promoting technological innovation and development, regulation of markets and competitiveness and the defence of economic stability.

"Our compromise regarding policies for budget stability must not be questioned," the letter added.

"Prudence in economic policy is also vital over the long term because of the challenge the aging population presents to the economy and public finances" in reference to increasing social security costs, the six prime ministers wrote to the leader of Ireland which currently holds the revolving EU presidency.

In urging the promotion of technological innovation and development, the letter said this was necessary because "research must be transformed into innovative products and services adapted to the needs of a growing economy."

The leaders proposed that government R&D funding be used in a more efficient manner and that the private sector should be encouraged to take part, cross-border technological cooperation needs to be encouraged and that fiscal incentives for such activity be investigated.
 
Copyright EFE with Expatica

[Subject: Spanish news]

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