S&D - Group of the Progressive Alliance of Sociali : Swoboda on World Economic Forum: 'A lot of hot air from Davos elites'

The World Economic Forum in Davos, Switzerland has so far seen key-note speeches from German Chancellor Angela Merkel and British prime minister David Cameron, among others. The speeches centred on the global economic crisis, but failed to deliver a new vision to end the crisis.

Hannes Swoboda, president of the S&D Group in the European Parliament, deplored the lack of commitment to finding ways out of the crisis:

What we have heard from Davos is nothing but the same old story over and over again. Merkel, Cameron and the rest bear the responsibility for the crisis we are in and are now talking of reform. But these elites are incapable of finding an answer to the crisis. Unemployment across the European Union is still sky-high, with more than 26 million people out of work.

The World Economic Forum in Davos could have been an opportunity to launch a truly different crisis management policy, to end the senseless austerity and start investments targeted at growth and employment. Instead, those organisations that actively try to put forward solutions, like the European Central Bank, are attacked by the Davos elites.

The crisis in Europe has cost jobs and opportunities, and lowered the living standards of people across Europe for five years now. Even the IMF (International Monetary Fund) - by no means a progressive organisation - is backing away from the austerity policies imposed by conservative governments. But some governments, including Germany and the UK, refuse to acknowledge that austerity is hurting people and keeping Europe in the vicious circle of recession and unemployment.