Local view for "http://purl.org/linkedpolitics/eu/plenary/2003-07-03-Speech-4-016"
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"en.20030703.1.4-016"2
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") Mr President, Commissioner, Mr Duisenberg, I would, as coordinator of the Group of the European People's Party (Christian Democrats) and the European Democrats, like to thank you very sincerely for your work as the first President of the European Central Bank. On behalf of my group I would like to say that you were the right man at the right time.
You have not only shaped the image of the European Central Bank through your appearance; you have also shaped it by the sheer force of your personality. I myself have a three-year-old son and I therefore know how important, how eventful and how demanding the almost daily surprises of the early years of a child's life are. The early years of the European Central Bank's life have been successful ones and you have shouldered your specific responsibilities to our full satisfaction during those first few years. The introduction of the euro and the introduction of the euro notes and coins went smoothly. The ECB has made its mark as an independent European international bank. With a steady hand, you calmly steered our monetary policy on a successful course on the basis of the ECB Statute, building up confidence without being swayed by short-term populism, opportunism and carping. You demonstrated that for you the long haul was more important than short-term image building.
You also once again sounded a note of warning today when assessing the report. Those who deliver such warnings need credibility and integrity, and you possess both those qualities. You have reminded us again today that despite the successes of the European Central Bank, a great many tasks have been agreed as regards the economic policies of the Member States, and as regards our own work, which have not yet been completed. You also reminded us that structural reforms need to be given high priority in Europe's economic policy, because they underpin stability and growth; that fiscal policy needs to provide a stimulus and must be pursued; and that the Stability and Growth Pact should not be constantly called into question but must flank the ECB Statute by providing the necessary basis for a successful policy of stability and growth. You have once again reminded us that monetary policy can be no substitute for economic and cyclical policy and a corresponding structure, and our priorities must be adjusted accordingly.
Through your work and that of your colleagues in the ECB, you have averted a number of monetary crises – we only have to think of 11 September and of the Asian and Russian crises. You have made an excellent job of preparing Europe and the ECB for enlargement, and we have also moved closer together, although there were often times when a little more communication and transparency would have been welcome. Nevertheless, our relationship has become a more open one. I would like to conclude by saying that as far as I am concerned, I would have been pleased to see you stay for the entire period of office! Many thanks for your work."@en1
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