Portugese president Silva wil sterkere nadruk op groei (en)

The crisis in the eurozone will not be solved through austerity alone, Portuguese president Aníbal Cavaco Silva warned MEPs this Wednesday. During his speech in Parliament, he also pointed out that the EU's austerity policies contrast with the more expansionary measures of other regions in the world and that both the European Commission and the Parliament have stressed that growth should be an EU priority.

"This crisis exposed serious weaknesses of the Union," said Mr Cavaco Silva. "In addition to the slow response to the euro crisis, the biggest failure of the EU was and still is that it isn't doing enough to promote economic growth and the creation of new jobs."

On Portugal

The Portuguese president also reminded MEPs that his country had made significant progress, but stressed the dramatic unemployment rates: 17.7% overall unemployment and 42% youth unemployment.

About the EU's long-term budget

Mr Cavaco Silvo also brought up the current negotiations for the EU's long-term budget: "I share the frustration felt by many in this Parliament about the European Council's lack of ambition. Nevertheless, in the current circumstances, my advice would be to work toward a rapid agreement in negotiations."

EP president Martin Schulz i thanked Mr Cavaco Silva for his solidarity with the EP regarding the negotiations for the EU budget.