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On 8 December 2011, at the 476th plenary session of the European Economic and Social Committee (EESC) President Staffan Nilsson, the three interest groups making up the EESC and Jean-Paul Delevoye, President of the French Economic,Social and Environmental Council agreed that deeper European integration was the only way out of the crisis. In the lead up to the European Council, the EESC President's statement tackled key aspects of the crisis such as fiscal discipline, the discussion on stability bonds and regulation of the financial sector.
The plenary session was opened by President Nilsson with a serious warning: "The European Union is in a profound crisis – a financial crisis, an economic crisis, a sovereign debt crisis, a social crisis with almost 23 million unemployed, but also a fundamental crisis of European integration itself". His statement on "Overcoming the crisis – towards a policy programme for sustainable recovery" sets out the Committee's stance on various aspects of the economic crisis and the possible solutions.
