Local view for "http://purl.org/linkedpolitics/eu/plenary/2002-01-16-Speech-3-130"
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"en.20020116.10.3-130"2
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"Mr President, Commissioner, the euro is an undeniable success, and this is thanks to the European Central Bank, the Commission and all those who worked on the project, including the Members of Parliament. Mr von Wogau said that the next stage would be political union. I agree, but I feel it would be a mistake to think that the success of the euro, its capacity to be a strong, stable, reliable currency lies in political union, which is necessary for other reasons. The euro will be a strong currency if Europe’s economy is strong.
Commissioner, you mentioned the need to coordinate economic policies several times in your speech. I feel that there is something which is even more important than coordinating economic policies, which, if we overdo it, could even have negative repercussions. It is important for there to be sound economic policies in Europe: the strength of the euro will depend on it. We must combine
the
transparent policies and get away from the present rigidity. The strength of the euro, then, will depend on the ability of these transparent policies to make the economic systems more dynamic – as Mr Maaten said – to free them from the constraints of corporatism and
to liberalise the markets, etc. All this is often the result of too little rather than too much economic policy and, in this respect, I feel that the tension between policies, the competition between the many different solutions adopted by the countries is of benefit and, through a form of
benchmarking, can foster positive processes of emulation.
Although it does need some fine-tuning, the framework of the single market, together with the Stability Pact – an economic Constitution which many countries like Italy did indeed lack – is broad enough to be able to embrace, without conflict or contradiction, a transparent range of options between which it is left to the individual countries to decide. I believe that leaving the Member States the leeway to choose between options within the framework of the single market will lead to a stronger economy and that, as a result, the conditions necessary for a stronger single currency will emerge."@en1
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