The Liberals trust the role of the open markets. The free markets are the instrument to achieve economic prosperity; they are not a goal in itself. Unlike them, the European Socialists and Conservators believe, that the protectionism may play the role of a “magic wand” to find the way out of heavy economic crises.
The European Liberals believe that the free competition brings forward innovations capable to find the way out of the crisis. The achievements of the common European market have to be appreciated as “the treasury” of the European family. This means that no financial support should be given to structurally inefficient companies, thus avoiding the financial burdening of the future generations. This explains how the liberalism plays key role for coping with the crisis.
It is obvious that the Members States need to take consistent and coordinated actions. The Liberals in Europe – both in the European Parliament and at national and regional level – are making efforts to prevent another subsequent collapse and to restore the economic growth.
The special ELDR dossier – “The financial crisis – the Liberal response” offers a full compilation of documents and concrete actions, revealing the way the EU Liberals, as well as the Liberals in the world, are coping with these challenges.