EU Presidency

Reinfeldt Determined at EU Parliament

Updated 18:30

Swedish Prime Minster Fredrik Reinfeldt appeared in the European parliament today to present plans to tighten financial regulations and fight climate change.

Comparing the current financial crisis with Sweden’s own financial woes in the 1990s, Reinfeldt said EU countries should reduce budget deficits rather than pumping money into their economies. Otherwise, Reinfeidt warned, “mass unemployment, social unrest, and a rising tax burden” would await.

Reinfeldt also vowed to reach a common EU position on fighting climate change in order to help developing countries reduce carbon dioxide emissions. “Europe has a crucial role in getting others to sign up to a global agreement,” he said.

Marita Ulvskog, a Swedish member of the European Parliament and a Social Democrat, agreed with Reinfeldt in his priorities but said to Swedish news agency TT that she thought the solution presented by the government was wrong.  

"What is needed now is substantial investments into creating jobs, education and a green economy. The solution is not to put already anorectic economies on a starvation diet," Ulvskog said to TT.