Need for several countries in western Europe to accelerate their own economic transition process

Doc. 8372
12 April 1999

Need for several countries in western Europe to accelerate their own economic transition process

Motion for a resolution

presented by Mr Leers and others

This motion has not been discussed in the Assembly and commits only

the members who have signed it

1. Over the last decade, the political debate in Europe has largely focussed on the need for the countries in transition in central and eastern Europe to pursue their economic transition process. However, many of the established market economies in Western Europe, in so doing, have tended to overlook the need for their own transition toward economies better capable of competing with, for instance, the much more rapidly growing and dynamic US economy;

2. Many European countries today face a perilous economic situation, characterised by growth barely sufficient, or even insufficient, to prevent an already high employment rate from rising. With the United States as the world's virtually only remaining "importer of last resort", most European economies, including in the European Union, remain highly vulnerable should the US economy slow down. For countries in 'Euroland' the vulnerability is particularly great, in consideration of the fact that one single interest rate applies to often highly disparate economies in different phases of the economic cycle.

3. The Assembly with this in mind calls on the established market economies in western Europe urgently to carry out structural reform in all areas of importance for long term growth and greater dynamism. This would constitute their best contribution to their own political and social stability as well as to pan-european solidarity, especially as concerns the future prosperity of the transition countries in the central and eastern parts of the continent.

Signed : ¹

Leers, Netherlands, EPP/CD

Beaufays, Belgique, EPP/CD

Behrendt, Germany, SOC

Columberg, Switzerland, EPP/CD

Davis, United Kingdom, SOC

Gelderblom-Lankhout, Netherlands, LDR

Näslund, Sweden, EPP/CD

Schreiner, France, EDG

Squarcialupi, Italy, SOC

Stepova, Czech Republic, SOC

Turini, Italy, EDG

¹ SOC: Socialist Group

EPP/CD: Group of the European People’s Party

EDG: European Democratic Group

LDR : Liberal, Democratic and Reformers’ Group

UEL: Group of the Unified European Left

NR: not registered in a group