Brussels, 14/06/2005 (Agence Europe) - In a response to the Luxembourg presidency's proposal on EU financial perspectives (EUROPE 8963/8964), the European Association of Chambers of Commerce (Eurochambres) in a press release, declared that “Europe's priority lies in the revival and competitiveness of the European economy and that this be reflected in the financial perspectives”. Eurochambres president Christoph Leitl said that, ““It is very disappointing that the Presidency proposes to cut most in funds for competitiveness, a staggering 40%. It is difficult to understand that at a time when fears about job losses and our economy dominate European citizens, alarming signals - once more - are not picked up. Competitiveness must be our priority - at the same time Europe must intensify the dialogue with its citizens. The problems of unemployment and loss of competitiveness will not disappear by themselves. Reducing our efforts and investing less is counter productive and undermines Europe's future. We are in the process of cutting the roots of the tree, which has already lost too many of its branches!” Leitl warned that The Financial Perspectives are a moment of truth for Europe and for the Member States. If we don't provide the funds to improve Europe's competitiveness, we will fail to create growth and jobs.