Remarks at the Europe Conference

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The Minister based his remarks on the following points:

Prime Minister Juncker, Excellencies, Ladies and gentlemen,

• “Europe is at a crossroads,” the German Chancellor, Angela Merkel, declared to the Bundestag on 5 May in connection with the discussion on the German bailout to Greece. “This is about no more and no less than the future of Europe,” she said. The title of today’s conference is a reference to Chancellor Merkel’s words. 
• I share Chancellor Merkel’s strong sense of urgency. During the last year, the global financial crisis has turned into an employment and debt crisis in Europe, putting the European Union and the Euro cooperation to the test.
• Many European countries were already struggling with considerable public debts before the financial crises. The emergency measures taken in response to the financial crisis have created even larger budget deficits and problems.
• Thousands off households in Europe are facing unemployment and the fear of declining living standards. For example, 40 % of young people in Spain are unemployed.
• People in Europe are expressing their anger, grief and frustration in the streets. This reminds us of the impact the crisis is having on human lives. This reminds us of how a financial crisis leads can quickly lead to social and political unrest.
• How this crisis will affect ordinary peoples’ confidence in political institutions in Europe and the European Union as a project remains to be seen. However, the history of European integration shows that, at times like this, Europe can make significant changes and progress. The establishment of the internal single market in the 1990s serves as an illustration. 
• I am convinced that Europe will come through this crisis. Tough decisions are being made in Brussels and EU capitals to stabilise the situation in the short term and facilitate growth in the longer term. I am looking forward to hearing Mr Juncker’s assessment of the situation.
• Norway has been less severely hit by the financial crisis than most other countries in Europe. The Norwegian Government is a net creditor. We have been better positioned to apply fiscal stimuli without accruing debt. And the structure of our exports, which is to a large extent based on energy products, made us less affected by the slump in demand than many other economies.
• Nevertheless, the development in the rest of Europe is of great importance to us. The European Economic Area has made us an integral part of the internal market. 70% of our exports are to the EU. Thus, when European countries are hit by an economic crisis, we are speaking of Norway’s closest and biggest economic partners.
• Developments in Europe – both political and economic – go to the heart of Norwegian values and interests. When political and economic difficulties strike European countries, it is our allies, our neighbours and closest partners that are affected.
• It is an honour to introduce Prime Minister Jean-Claude Juncker of Luxembourg to this year’s Conference on Europe in Oslo. He is the longest serving head of government in the European Union and highly respected in all quarters. In 1991, Mr Juncker was one of the principal architects of the Maastricht Treaty, in particular the section on the economic and monetary union, large parts of which he drafted himself.
• Since 2005, Mr Juncker has been the first permanent president of the Euro group, the group of finance ministers of the Euro zone. We are all looking forward to hearing his perspectives on the turbulent and decisive times that Europe is now going through. The floor is yours.