The “Centro Studi sul Federalismo” has recently issued a memo on the creation of a Fund for the Development and Employment to be presented before the European Council on June 27 – 28 this year.
“Many
progressive actions have been made due to an efficient government of the Euro
Zone, in order to guarantee financial stability, through the entering of the
Fiscal Compact, the Six-Pack and the Two-Pack. By this time, a diffuse
consensus has been reached regarding the fact that every country has to pay the
debt it acquired in the past.”
This is
one of the basic statements of the document, which will open a new path filled
with doubts and questions, which is the dilemma of the most important political
union of all times on regional integration.
How can
Europe reach fiscal consolidation without a solid relaunching of the European
economy? Economy and youth unemployment are two faces of the same coin which
currently affect the European Union as a whole.
The
unemployment figures in the European Union add up to 26.5 million
(Eurostat-April 2013) of which 5.6 million are below 25 years of age (100,000
more than the previous year). On the other hand, Germany shows the lowest index
of youth unemployment (7.5%), while Greece shows one of the highest (62.5%).
Germany, Austria (8%) and Holland (10.6%) are leading the score; and Greece,
Spain (56.4%), Portugal (42.5%), Italy (40.5%) and France (26.5%) have shown
the worst outcome.
Upon
insistence of the citizens in general, concern soon became a major decision of
multiple agreements between the Work and Finances ministries of Italy, France,
Spain and Germany. The meeting took place on June 14, in Rome to decide on the
destination of 6000 million euros as of this year, in the fight against youth
unemployment affecting southern Europe, mainly. This budgetary item will be
used between 2014 and 2020. In spite of making some progress, the French
Minister of Labor, Michel Sapin, emphasized on the insufficiency of this
decision: “In plain words, there are 6000 million euros which will be unblocked
as of 2014 against the youth unemployment… in 5-6 years, it will not be
enough”.
Youth
migration looking for new opportunities to Berlin, London, Brussels, United
States and even Brazil has grown. Others are taking advantage of the constant
education specializations, and become the eternal students. After finishing
their masters’ program, they start applying for the doctorate in order to live
from the scholarship.
The
small and medium enterprises (SMEs) did not escape the meeting either, since
these are currently facing serious financing difficulties. We are talking about
the genuine employment generators which are now demanding more accountability
from the European Investments Bank. A reactivation of the financing flows of
SMEs is now expected through the creation of new ways of financing. On this
matter, the Italian minister of Finances, Fabrizio Saccomanni, expressed the
following: “We have discussed some interesting ideas, as for example, the
“mini-bonds”, simplified liabilities which will be supported by the States or
financial intermediaries”.
A next
meeting has been scheduled for June 19th in Madrid between the
representatives of the European Work Ministries. The ultimate goal is to apply GUARANTEES
FOR THE YOUTH financed through a SOCIAL EUROPEAN FUND so that any young man
below 25 years of age has the possibility of receiving one of the following
offers: quality employment, formation or learning offers-professional
internships-during four months after ending their academic formation or after
losing their current job.
For the
federalists, there is definitely no national solution to the current European
crisis. It is necessary to create an EUROPEAN FUND FOR DEVELOPMENT AND
EMPLOYMENT. Such fund has two main problems to address: the ways of financing
it and the expenses which may be thereby generated.
The
proposals made by the Centro Studi sul Federalismo, include a total affection
of the funds from the Liens on Financial Transactions to the European Fund
instead of directing them to the national treasuries. In other words, under the
purpose of managing the exchange rate volatility and to avoid alterations
towards the international financial markets from the exchange operations, some
sort of “Tobin Tax” was suggested. If applied to any exchange rate from one
currency to the other, a tax on the transaction’s volume, for example 0.5%, it
may be possible to amortize flows on the kinds of exchange thereby generating a
dissuasive effect for speculators who invest money in foreign currency on the
short term, damaging the real economies.
An
income from tax to financial transactions (ITF) ranging from 31 to 33 billion
euros per year is expected for the 11 countries who have already adopted this
fiscal policy. No doubt it is an important amount which is currently a priority
for the construction agenda: to complete the existing infrastructure network
(energy, transportation, wideband). Furthermore, an incentive to technological
innovation is intended in an European economy that needs new incentives in
order to compete in the world market. EUROPEAN COMPETITIVENESS now requires
from special attention to investment on superior education, research and
technological innovation.
To
destine the income from the ITF to the creation of the EUROPEAN FUND FOR
DEVELOPMENT AND EMPLOYMENT is a central matter to reinforce and complete the
federal unification process of the European Union. The impact on the economies
of the member States would be greater due to the efficiency on the community
expense.
Adding
individualities makes the whole. In order to accomplish the formation of the
community, it is necessary to quit to the individual egos, to the individual
unimportance in order to allow collective transcendence. As God has told us, in
1st Corinthians 1:10: “I appeal to you, brothers and sisters, in the
name of our Lord Jesus Christ, that all of you agree with one another in what
you say and that there be no divisions among you, but that you be perfectly
united in mind and thought.”
What is
the importance of unity? Undoubtedly its results: the construction. To speak in
one same tongue, the tongue of understanding, the koinonia-communion-,
agreement.
The
European Union was born from the integration, political maturity and the leap
towards the improvement of the decision taking quality for each State. The key
is in not capitulating before the context alterations and reinforcing the bonds
which gave birth to this federal vision.
Buenos Aires, June
2013
Gretel Ledo
Political International Analyst
Attorney | Political Scientist |
Sociologist
Master in IIRR Europe – Latin
America (Università di Bologna)
www.gretel-ledo.com.ar
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