The world is undergoing a quadruple crisis

The world is undergoing a quadruple crisis. Financial with huge losses and the bankruptcy of the banks. Economic, since now have growth, employment and purchasing power. Sustainable development climate change and the scarcity of raw materials. Policy, since actors at its origin took advantage of deregulation and competition between the States with the policies pursued by the conservatives in Europe and around the world.

The speech and agitation haphazard Nicolas Sarkozy, in contrast to what he proclaimed a year ago, today lead us in an unreal world and does not eliminate its responsibility in our yawning deficits. The Socialists must reject demagoguery and postures in proposing new, credible and courageous responses where public power found its regulatory place.

At the global level, the convening of a monetary and financial Conference international must lead to refounding the monetary system by ending the reign of the dollar. The creation, from the IMF, a pole of regulation of financial markets must ensure that the standards and rules of the Conference. Agreement on the fight against tax havens is the basis of a financial world refondé brick. The creation of an economic Security Council must allow to harmonize the rules of the trade, the objectives of combating poverty and social and environmental standards.

It is at European level that today are the biggest issues. Beyond emergency response, we need to build an economic government harmonizing fiscal and social policies through dialogue with the European Central Bank, financing the solidarity between countries, flying a budget increased to 1.5 of GDP. The Union must be able to borrow and finance a broad recovery plan based on the research of sustainable growth with environmentally friendly infrastructure projects of the environment, use of renewable energy devices and the acceleration of research and innovation programmes. A loan of EUR 100 billion (approximately 1 point of GDP in the European Union) is compatible with its reimbursement capabilities. The European Union must also be financial reform spearheaded: regulation of hedge funds, reform agencies rating, changes in accounting standards, denial of tax havens including in the countries of the Union.

In France, the Socialists have opted not to oppose the more that imperfect proposals in October but insufficient to financial, economic, or even moral. They must be accompanied by the assurance that all amounts will be recovered will go directly to the State and taxpayers. The State must play its role as a shareholder, including the remuneration of managers.

Beyond, the urgency is to provide support to the real economy. Our country is very late, having already eaten its margins by the "tax package". The plan recently announced by the President of the Republic is not up to the situation. The first duty, in this situation, is to create a national fund for guarantee to ensure credits that would be distributed for projects of SMEs and for accession to the property by a public guarantee system.

Need to lower the corporate tax for companies which reinvest their profits and create a tax credit innovation for SMEs, to ensure the activity is restarted. It must support the purchasing power of conditioning the exemptions of contributions agreements on employment and wages and under the premium for the job. Finally, public investment must be supported by the local loan guarantee and maintenance of the holdings of the State, because they realize 73 of investments in France.

We will also have to go beyond the necessary emergency measures. The socialism that we defend proposes another economic model, which imposes to the markets of the regulations, of redistribution and allows the funding of public services. Between the cynical improvisations of the right and a retreat on old visions that would fragment Europe, there is room for a socialism based on effective public power, providing for social State, a European Union protective and influential. It is time for the Socialist Party to open the road with its Socialist and social partners European Democrats.