Local view for "http://purl.org/linkedpolitics/eu/plenary/2001-02-15-Speech-4-242"

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"Commissioner, I wish to begin by reiterating your words at the very beginning of your speech, to the effect that in this matter, the role of the Commission is to coordinate the economic policies of the countries of the European Union and this function has nothing to do with the normal transfer of Community funds. Commissioner, I would like you to answer the following questions: how do you think the Irish economy can be cooled down when the rate of inflation in Ireland is higher than the interest rate set by the European Central Bank and, therefore, money in Ireland is very cheap? You and your colleagues, Commissioner, know that, in the United States of America, there is a difference in the rates of inflation between the various states. This does not necessarily affect the stability of the dollar, however. Why should this situation, in the case of Ireland, whose economy only represents 1% of the European Union’s GDP, be crucial to the stability of the euro? Finally, Commissioner, you mentioned the Stability Pact several times, but not once did you mention the Growth Pact! I would say that stability is important if there is to be growth, and I would give the example of Ireland, which has been a Member of the Union for twice as long as Portugal and Spain. Nevertheless, it has already shown such high levels of growth that it has reached the Community average. This makes me wonder whether the Commissioner would not also like to consider the possibility of not seeing the Maastricht criteria, particularly inflation, as his Bible and whether there are not other, more important aspects for him to think about in order for Europe and all the countries in Europe to grow at a healthy pace?"@en1

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