Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-11-17-Speech-1-080"
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"en.20081117.21.1-080"2
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"Mr President, Mr Juncker, ladies and gentlemen, Mr Mölzer seems to have missed the point, as nothing that he said had much to do with the euro.
The euro and enlargement are the European Union’s most visible successes of the last 10 years. We must, however, also bear in mind that these successes would never have been possible without the Maastricht criteria, the Stability and Growth Pact and the European Central Bank, and without political will and a willingness to take responsibility at European level. We are now talking about cooperation and coordination. It is true that we need more cooperation and coordination, but, for that to be possible, we will need to trust each other more. We need more cooperation and coordination, not least in light of more Europe with respect to economic practices.
During diverse crises, the European Central Bank, the Federal Reserve and the Bank of Japan have helped to protect Europe from monetary crises. I would therefore once again stress that there can be no summit without representatives of the Euro Zone and of the European Central Bank. The financial crisis has demonstrated that the euro has helped us to avoid currency speculation, and to prevent it from occurring in the Euro Zone. The reactions in Denmark, the United Kingdom, Sweden and Hungary very clearly show us what the euro has done for us.
My final point, Mr President, is that we also want the European Union to be represented in the IMF, the World Bank and the global financial economy in accordance with its strength. We call on all those who are now clamouring for global regulations to do in Europe and in their Member States what they are demanding that others do."@en1
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