Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-11-17-Speech-1-084"
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"en.20081117.21.1-084"2
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"Thank you, Mr President, I consider the introduction of the euro a success, since we have seen unemployment fall and employment rise, given the stability that lies behind the euro. Further proof has come from the current crisis, for any country that can use this strong reserve currency simply cannot have balance of payment difficulties, whereas others – such as Hungary – are experiencing such problems.
However, the Euro Zone has not succeeded in achieving convergence, despite cohesion fund support, and what we should be examining instead are the reasons for this. It is a very strong magnet for capital. Therefore, I suggest that in examining what happened, we should take into account not only GDP but also GNI.
I am pleased that the report has included the point that measures should be taken against Member States who have continuously provided incorrect, rose-coloured forecasts – as we know from the events in Hungary in 2006 – and I believe that this is indeed necessary.
I think it important that we should preserve the prestige of EU membership. On the one hand, states that are not members of the European Union should not enter the Euro Zone, since this would mean that we could not justify the dramatic efforts made by certain states to become members.
The tools of the ECB, particularly during the current crisis, should be used for each Member State, especially as regard liquidity; we should not be selfish in this regard. This gives meaning to the EU's protective shield and to membership in the internal market, which represents a significant challenge, particularly for the less developed Member States. But similarly, we should take this into account in the composition of the ECB Executive Board.
The most important consideration, however, is the external representation of the Euro Zone. This is necessary, but each Member State should be involved in conferring the mandate for the external representation of the Euro Zone; external representation should not be an exclusive club, since the EU is a unified entity.
Finally, I would like to say that Member States need to enter the Euro Zone as soon as possible, under strict but logical conditions. Therefore, I am pleased with Mr Klinz's reasonable suggestion that the reference countries be limited to the EU area countries. Thank you for your attention."@en1
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