Local view for "http://purl.org/linkedpolitics/eu/plenary/2000-05-17-Speech-3-121"
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"en.20000517.7.3-121"2
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"Mr President, allow me first of all to congratulate Greece on its extraordinary economic progress. The Commission has now concluded that Greece fulfils all the convergence criteria. I am convinced that Parliament will take the same view. It is quite an achievement to meet the convergence requirements and, at the same time, as Greece is doing now, to achieve increases in growth and employment.
Europe, especially the remaining convergence countries – Sweden and Greece – are now showing that it is fully possible to fulfil the stability requirements of the convergence process and still maintain a dynamic economy with growth and falling unemployment. Against that background, I have no reservations about recommending that Greece join the euro zone as from 2001.
Sweden, too, fulfils the basic economic requirements. The Swedish economy is now one of Europe’s strongest, with low inflation, high growth and a balance of payments surplus. However, Sweden still does not fulfil all of the more formal requirements. It has not joined the Exchange Rate Mechanism (ERM) and Swedish legislation concerning the Bank of Sweden still does not completely fulfil the requirements of the Treaty. However, the Swedish Parliament has instituted a number of changes to the legislation concerning monetary policy in order to facilitate Sweden joining the euro. The remaining changes will be made when Sweden actually applies to join the euro, partly by applying to join the ERM.
I am very well aware of the implications of the Treaty. But in a Euro-sceptic country like Sweden, which still feels itself to be a new Member State, there is a democratic imperative for a change as major as that of joining the euro to be preceded by a careful democratic process.
At the Committee hearing, Commissioner Solbes declared that it is the individual country which applies to enter the ERM. Where Sweden’s entry is concerned, it is therefore my and, as I understand it, the Commission’s judgement that to want full status in EMU by entering the ERM is to adopt a political position. Commissioner Solbes said in the Committee that he respects the Swedish government’s desire to allow the people to decide the question in a referendum. We are therefore also grateful for the phrases in Mr Goebbels’ report in which he welcomes this democratic process.
I, who am working hard
Swedish ‘euro membership’, am convinced that, in a few years’ time, we shall also make the same decision for Sweden as we are now making in the case of Greece, i.e. to welcome and approve Sweden as a fully-fledged member of the Economic and Monetary Union and of the single currency. I look forward to that day."@en1
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"in favour of"1
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