Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-11-17-Speech-1-076"
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"en.20081117.21.1-076"2
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"Mr President, a review of the ten years of Economic and Monetary Union should be assessed from an international perspective. The question we should ask is where the European Union has shown its advantages over its main competitors in the world, that is, the USA and Asia. This perspective clearly shows that the Euro Zone balance sheet is in the red. The European Union has been developing more slowly than its competitors. Growth in jobs, and particular the growth in labour productivity has been lower than in the USA, not to mention Asia. This means that the common currency is not fulfilling its fundamental role.
Another aspect is the future of the Euro Zone: documents of the European Central Bank and the authorities of the EU are placing increasing emphasis on the need to use the euro as a tool to impose uniform economic policies on the Member States, particularly as regards budgetary and fiscal policies. This declaration is of concern to the more backward countries, particularly the new Member States. How can they develop and close the gap with the old Member States if they are forced into a policy that slows economic growth in all Member States?
The main criticism of the European Central Bank is that in striving to make the euro a world currency, it is ignoring the economic problems of the regions and the less developed Member States. It is also failing to take into account social aspects, such as demographic structure and the mobility of citizens.
The position of the EU authorities is even less acceptable when it is considered that for many years both Germany and France failed to comply with the stringent conditions of Maastricht, because they knew that this was in their national interests. Furthermore, they were never called to account or punished. Therefore, in my view, what is needed is not to continue the present economic doctrine of the Euro Zone, but a radical change which will help not only to counteract the present financial crisis, but will above all release the energy for every Member State of the EU to develop economically."@en1
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