Local view for "http://purl.org/linkedpolitics/eu/plenary/2001-07-03-Speech-2-094"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2001-07-03"^^xsd:date2
dcterms:Is Part Of	lp_eu:ECB and the euro (continuation)2
dcterms:Language	"de"^^xsd:language2
lpv:document identification number	"en.20010703.6.2-094"2
lpv:hasSubsequent	lp_eu:2001-07-03-Speech-2-0952
lpv:speaker	lp:Sylvia-Yvonne Kaufmann2
lpv:spokenAs	vice-chair; EUL/NGL (1999-10-13--2004-07-19)3 substitute; Committee on Citizens' Freedoms and Rights, Justice and Home Affairs (1999-07-21--2002-01-14)3 vice-chair; Delegation for relations with Japan (1999-07-22--2002-01-14)3 member; AFCO (1999-07-21--2002-01-14)3 unknown; Partei des Demokratischen Sozialismus (1999-07-20--2004-07-19)3
lpv:translated text	"Mr President, Mr Duisenberg, people feel that they are paying for the lamentable situation with regard to the euro. According to yesterday's 49% of Germany's population are against the euro. Over 50% do not believe that it will boost the economy or emulate the stability of the Deutschmark. 30% expect a decline in the value of their assets and 67% expect price increases when we switch over to the euro. The euro has certainly not become a job machine or acted as a brake on inflation, which is precisely what was rashly promised to the public earlier on. I am very grateful to you, Mr Duisenberg, that the decline in the euro exchange rate is cited in the ECB report as one reason for the increase in inflation, and that the report at least refers to the increasing inflation rate differential between the euro countries rather than putting all the blame for the euro's weakness on the dollar. Monetary stability in the euro area and the external exchange rate stability of the euro are inextricably linked. It needs to be said just as clearly that the ECB's monetary policy has failed to achieve its own stability targets and that the euro is now even associated with a decline in real income. The responsibility for this is not, however, chiefly attributable to the ECB, whose scope for action is becoming ever more restricted. It is more that the policy of the euro countries has contributed far too little to economic convergence. What is really incomprehensible is that the French proposal to establish an "economic government" has gone unheeded. The differences in inflation and growth between the individual euro countries, which are in fact increasing, are dangerous and I believe that they should be analysed in great detail in future ECB reports. Uniform interest rates are too restrictive for some euro countries and too expansionary for others. A European monetary policy geared to monetary stability is totally at odds with conflicting national economic, tax and social policies."@en1

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