Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-12-15-Speech-2-295"
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"en.20091215.18.2-295"2
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"Mr President, Mr Almunia, in order to help the economies of the Member States in Central and Eastern Europe to recover, there are two possible approaches: giving fish or giving a fishing-rod. Of course, what is best is to give a fishing-rod. The difficulty is to know what kind of fishing-rod it should really be. The cornerstone and gauge of recovery is the creation of new jobs. In order for this to happen, investment is needed. One of the main obstacles to investment in the region is a lack of clarity about the stability of the national exchange rate and the introduction of the euro. At the moment, the introduction of the euro in the new Member States is like a horse-race, with each state trying to break away from the pack and reach the euro area.
It may happen that in this crisis situation, some Member States do themselves harm; for instance, by rapidly reducing budget expenditure, they increase unemployment over the level that their economies can withstand. It may also happen that one Member State, in joining the euro area, may damage the economy of a neighbouring state outside the euro area, by attracting investment to itself and increasing the level of unemployment in the neighbouring state. The European Union is formed on the basis of the solidarity principle. When the EU increased the number of its Member States in 2004, a unified strategy for the reception of these Member States into Europe was developed and adopted. I believe that the European Commission should have a rethink on the process of introducing the euro and should prepare a clear strategy for its introduction which does not indirectly induce Member States to cause harm to themselves or their neighbours. It is not necessary to change the stability criteria, but a joint plan and timetable should be developed for the whole region, so that we can introduce a single currency in Europe using an established procedure that is clear to all. This would be the fishing-rod that would help the economies of that region to recover, by opening the door to investment and the creation of new jobs."@en1
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