President Barack Obama is still strong and very convincing when he talks. He is sending a clear message as when I saw him during his inauguration in Washington.
Yesterday, during Bill Clinton’s global initiative conference, his message was again very clear and firm. Nobody can do it alone. We must cooperate. And permit ourselves to create more jobs, to make it sustainable, to unite climate policy and smart green growth. That is why Europe must support the US president during the G20 here in Pittsburgh. When Obama talks about the necessity for sustainable growth and new jobs, we should make a clear new common commitment. We must support him from the European side. On behalf of the PES, I fully agree with him.
That is why the European governments should abstain from pulling back their financial packages and stimulus. We do not need an exit strategy to be implemented now. The risk for further increase in unemployment would be alarming. What we need is an entry strategy for the labour market, for the millions of unemployed people.
His second message was on financial reforms. We must also here be united, to create a new fundamental set of rules to limit greediness, irresponsibility, shadow banking asset stripping of our companies, tax avoidance. This has to be done in strong cooperation on both sides of the Atlantic. When I look at the lobbyists in Europe, especially hedge funds and private equity managers, I am only confirmed in the necessity of a strong progressive cooperation between the PES and Europe and our American labour unions and democrats.
Reading the papers over here, listening to the debates, I wish so much that we could help the president and all progressives in the US in their struggle for the health care reform. In a sense, this has to be done in our common interest but also as a new step forward on the road to change: Climate, energy, jobs and financial reforms. We must go on telling the American middle class that this health care reform will not increase but lower their health costs and that they will have a better society.