Clegg: Europe must ‘reform now or regret it forever’
By Tony Hudson
If Europe does not reform in the wake of the continuing financial crises it could find itself in "perpetual decline", Nick Clegg will warn later.
During a speech at the European parliament, the deputy prime minister will emphasise the need for Europe to become more competitive, especially with aging populations and China's increasing economic influence.
The Lib Dem leader will claim that the "crisis of competitiveness" began well before the global financial crisis of 2008 and stress the importance of reform in Europe in order to avoid crises in the future.
"Unless we are prepared to fully embrace reform we will betray the hopes and needs of millions of Europeans, as well as Europe's future generations" he will say.
Despite the chaos enveloping Italy and Greece, Mr Clegg will express confidence that Europe can reform.
"European integration has always been defined by moments of great upheaval," he will say. "The Second World War, the economic stagnation of the 1970s, the collapse of the Soviet Union.
"We can navigate these difficult times, just as our predecessors navigated theirs."
Clegg will deliver the speech during a visit to Brussels to meet Herman Van Rompuy, president of the European Council, and other high ranking European officials.
