EU will do all necessary to restore growth -- but the classic way

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The European Council meeting on how Europe should respond to the current economic downturn was held on 19 and 20 March:
the economy back on track is one of the biggest challenges Europe is
facing. EU leaders meeting in Brussels on 19 and 20 March affirmed that
the implementation of the December recovery plan is progressing well.
The fiscal stimulus of over €400 billion will generate new investments,
boost demand and create jobs.

heads of state and government decided to double to €50 billion the
amount of financial assistance to non-euro member states facing
balance-of-payments problems. They also reached an agreement on the
€5 billion Community part of the recovery plan, boosting specific
infrastructure projects. These include broadband internet and energy
connections, such as support for the Nabucco gas pipeline" etc.

 Here you can read the press release and The Presidency conclusions.

 One could have expected that the major economical crisis could provide opportunities to green the economy.

In fact, despite an encouraging credo:

magnitude and the underlying causes of the ongoing global financial and
economic crisis demonstrate the need to reshape macroeconomic global
management and the regulatory framework for financial markets.

It seems that most if not all measures are targeted to get back on the
same very track as fast as possible.

What annoys me is that the
root "develop" (development, developing etc.) occurs 43 times in 30 pages  --which is fine--  while the word environment is virtually absent from the report (apart from bodies in the reference section) --which is not. There is not a single occurence of "green" either.

Play it again Sam. Yes in Europe too.

Average: 5 (1 vote)


daniel's picture

Well, I wonder whether their

Well, I wonder whether their advisors include anyone capable of digesting literature on things like steady-state economy, ecological footprint, finite natural resources or other concepts very relevant to this economic turmoil but not traditionally taught in business, politics or law classes. May be we should act preemptively in such cases and propose, before they meet for the next crisis meeting, a list of things such billions could more usefully and sustainably be spent upon. Fantasy funding is a game already being played for science, so why not expand it to other topics?

daniel's picture


"Dr Robert Costanza, Director of the Gund Institute for Ecological
Economics recently gave a talk at Wellington’s Victoria University on
the the ecological and financial crises that are underway.

The video is quite long (55 min) - Costanza's talk starts 5 minutes in. There is also an accompanying presentation, entitled The Global Recession: an opportunity to create a sustainable and desirable future.ppt (27 Mb)."

Also relevant: