Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-11-13-Speech-1-071"

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"en.20061113.16.1-071"2
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"Mr President, Commission, fellow Members, ladies and gentlemen, I wish to begin by thanking Mr García-Margallo y Marfil for this report on the situation in the euro zone. The rapporteur observes that the prognoses for the euro zone look better than they have done for a long time. That depends, of course, on what economic policy it is intended to conduct. The policy pursued so far has not exactly been a success. Large parts of Europe are in social and economic crisis. According to the latest statistics, seven million people are living in poverty in Europe’s largest economy, Germany. One of the causes of this is, specifically, economic and monetary union. EMU is presided over by the world’s most conservative central bank when it comes to inflation, and its Stability Pact stymies economic policy. As the European Trade Union Confederation (ETUC) recently observed in a report, it is not more of this inflexible policy that we need. Instead, the peoples of Europe need an active financial policy and a reorganisation of EMU. As you know, my own country, Sweden, is not a member of EMU. In 2003, a clear majority voted against participating in it. That is why I am rather disturbed to read the report, which notes that, as from 2007, the euro zone will comprise 13 Member States but that – and I quote – ‘macro-economic policy coordination and the internal market will involve all 27 Member States’. What does that mean? Does it mean that Sweden, which has voted against EMU, will have to participate in it sooner or later? I should be grateful for an answer from the Commission and also from the rapporteur, if he is given the floor at the end of the debate."@en1

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