Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-01-13-Speech-2-034"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20090113.5.2-034"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:spokenAs | |
| lpv:translated text |
"Mr President, Mr Giscard d’Estaing, Mr Juncker, Mr Trichet, Mr Almunia, ladies and gentlemen, many good points have already been made.
In 10 years, the euro has become a strong symbol for Europe. Yet the idea that Europe could create a single currency, whose foundations were laid especially in the Bremen agreement on the monetary system in 1978 and the creation of the ecu, would have been met at the time with scepticism from the markets and the main monetary authorities outside Europe. We should warmly thank and congratulate all those who made the decision and whose names have been mentioned here.
The creation of the euro is the best proof that Europe is capable, given the political will, to take long-term decisions for a common, prosperous future. This anniversary, then, gives us a particularly apt message of hope for today’s times.
It must be said, however, that among our fellow citizens and until recently there were mixed perceptions of the euro. For those who travel, the advantage of a single currency was obvious. For those who do not, the euro was associated with price rises. Studies have, in fact, shown that in most countries inflation was felt even though the official figures showed that, due especially to the action of the European Central Bank, monetary stability had been ensured. The reality is that some definitely took advantage of the euro to round up some prices and perhaps consumers were not vigilant enough.
When the euro has risen against the dollar, we have also heard comments from some manufacturers who for the most part produce in the euro area but sell outside this area. The European Central Bank has not been without its critics, who have not called into question its independence but rather its policy on interest rates, which seemed to be too high.
Today, the crisis has changed many of these perceptions. We all understand that the euro is a determining factor in restricting the European repercussions of a crisis imported from the United States. The European Central Bank has certainly been the most responsive central bank. Its particularly pertinent decisions have been welcomed unanimously. What would the situation have been if the various Member States had each had to defend their own individual currency? Devaluations would have been inevitable and we would not have avoided a currency crisis.
The welcome results of the euro must encourage us to continue and to broaden the coordination of economic policies and to respect the principles of the Stability and Growth Pact. It is true, at present, that exceptions may and perhaps should be accepted, but they can only be temporary and the objective of balanced public finances must be retained. High-quality public finances and economic policies are, in fact, in the long run, more than ever necessary. They are the guarantee of effectiveness, competiveness and growth. They are the condition for the solidity of our currency, the euro."@en1
|
| lpv:videoURI |
Named graphs describing this resource:
The resource appears as object in 2 triples