Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-06-20-Speech-3-058"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2007-06-20"^^xsd:date2
dcterms:Is Part Of	lp_eu:Improving the method for consulting Parliament in procedures relating to enlargement of the euro area – Adoption by Cyprus of the single currency on 1 January 2008 – Adoption by Malta of the single currency on 1 January 2008 (debate)2
dcterms:Language	"pl"^^xsd:language2
lpv:document identification number	"en.20070620.3.3-058"2
lpv:hasSubsequent	lp_eu:2007-06-20-Speech-3-0592
lpv:speaker	lp:Zbigniew Kuźmiuk2
lpv:spokenAs	unknown; Polskie Stronnictwo Ludowe (2004-07-20--2009-07-13)3 substitute; Temporary Committee on Climate Change (2007-05-21--2009-02-04)3 member; BUDG (2007-01-31--2009-07-13)3 member; Delegation to the EU-Russia Parliamentary Cooperation Committee (2007-03-15--2009-07-13)3 substitute; ECON (2007-01-31--2009-07-13)3 member; UEN (2005-12-13--2009-07-13)3 substitute; Delegation to the EU-Ukraine Parliamentary Cooperation Committee (2007-04-25--2009-07-13)3
lpv:translated text	"Mr President, by taking the floor in the debate on expanding the eurozone to include Cyprus and Malta, I would like to draw your attention to the following issues. First of all, the Commission is once again reminding us of the need for the new Member States to meet all the Maastricht criteria before joining the eurozone. At the same time, it is turning a blind eye to the fact that, when the euro was introduced, many of the old Member States did not meet these criteria. Secondly, despite the revision of the Stability and Growth Pact, the Commission has remained lenient towards the biggest Member States in terms of their adherence to the Maastricht criteria. In the past, the Commission has tolerated, and appears to still tolerate, significant budget deficits and a level of public debt in particular, which often exceeds 60% of GDP. Statistics confirm this. In 2006, public debt in the countries of the old European Union was as high as 63.3% of GDP and, in as many as half of the eurozone countries this debt exceeded 60% of GDP. Thirdly, the Commission's attitude towards countries wishing to join the eurozone varies greatly. Very recently, Lithuania's application to join the zone was rejected, in spite of the fact that it had met the Maastricht criteria, and its inflation rate barely exceeded 0.1% of the reference value. Therefore, the Commission’s quick approval of Cyprus and Malta’s membership of the eurozone might seem surprising in view of the fact that both countries' public debt clearly exceeds 60% of GDP. In 2006, Cyprus’ public debt amounted to as much as 65.3% and Malta's debt stood at 66.5% of GDP. Moreover, both countries are finding it difficult to provide Eurostat with statistics pertaining to their financial situation. In spite of the doubts I have just expressed, I would still like to congratulate both Cyprus and Malta on joining the eurozone."@en1

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