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“Stop Doubting Europe Economy”

  • August 4th, 2010
  • Posted by EUEditor

david-daly-2-reduced1.jpgThe EU representative in Australia, Ambassador David Daly (picture) , says there is “there is too much pessimism going around in some quarters about Europe and the euro”.


He told a Canberra audience (30.7.10) he had three key messages in response to the idea of the European economy, and currency, going weakly in the aftermath of the global recession.

“First, the European economy, with its single market, is important, resilient and is bouncing back; second,  European business is preparing for the future low carbon economy, and third, the EU is more broadly responding to future challenges though its Europe 2020 strategy”, he said.

He said the European Union and its Member States had been taking tough fiscal measures in bringing their budgets and economic situations back into line.

Ongoing strength of the EU lay in the “four freedoms” idea now being enacted under its joint Lisbon Treaty — entailing the free movement of people, goods, services and capital.

It was preparing for a low carbon economy of the future, and had put in place active policies to bring about affordable and reliable energy, and measures to curb greenhouse gas emissions.


The EU Delegation in Australia is also this week re-releasing new figures from the Australian Bureau of Statistics, showing Europe was Australia’s largest two-way investment partner — with investments worth A$1,005 billion, or almost one-third of Australia’s two-way investment stocks, ahead of the figure for the United States, A$918 billion.

Full text of speech:

H.E. Ambassador David Daly, Head of Delegation of the European Union to Australia, Speech to the Minter Ellison-Austrade Trade Connections breakfast seminar , ‘The EU and the Future Economy’, Canberra, 30 July 2010, (4.8.10).