Frans van Houten (CEO Philips), Paul Polman (CEO Unilever), Fijke Sijbesma (CEO DSM), Peter Voser (CEO Shell) and Hans Wijers (CEO AkzoNobel) urge European leaders to take action: ‘It’s one minute to midnight.’

‘At a meeting last week, one of us remarked: ‘If things in Europe really turn out badly and our children ask us did we do enough to prevent it would the answer be yes? This letter was born out of our concern for and commitment to the future of Europe and the Netherlands.
The crisis is threatening the euro and European integration at a time when both the euro and the internal European market represents three quarters of our exports. Both are essential to the competitiveness of the Dutch economy and our long term prosperity.
The Netherlands has traditionally been an open and internationally orientated country with a healthy economy. On a larger, European scale it forms part of one of the most powerful global economic units. Together with our European partners we make a difference on the world stage.
Precipice
But it’s one minute to midnight. We need decisive action to handle the euro crisis and we need it now. That is the best way to restore confidence in a strong and united Europe. We should focus on measures that will make our country more competitive and strengthen the European position in the world market. We shouldn’t retreat behind the dykes, on the contrary, the only way out of this crisis is to look over the borders.
It is fundamental we do so for another reason. The emerging economies – cheaper, quicker and sometimes more innovative – are juggling for position on the global markets and are gaining the upper hand in an unprecedented shift of economic power.
Our prosperity is not a given. It has to be worked for continually, all the more reason to do whatever it takes. We must cherish entrepreneurship, invest in people and new products which contribute to a sustainable future. We are conscious of the fact that, crucially, our young people need opportunities to develop – they are the future.
Courageous
As the representatives of five large companies we urge the European leaders to be courageous and act decisively. We need measures which will restore short term financial and monetary stability and measures which will create competitiveness and growth mid term. One thing is certain: we must not go down the road of protectionism or nationalism. It will not make our country a better or more prosperous place to live, rather the opposite.
We support the Dutch government and call on our politicians and their European counterparts to push ahead with structural reform to ensure our long term competitiveness.’
We are making the case for the Netherlands. And for our children. We want to be able to tell them that we handled the crisis ‘decisively, optimistically and mindful of the interests of the present generation and those to follow, for the preservation of our prosperity and culture.’

This is an unofficial translation