Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-25-Speech-4-036"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2010-03-25"^^xsd:date2
dcterms:Is Part Of	lp_eu:ECB annual report for 2008 - Report on the 2009 Annual Statement on the Euro Area and Public Finances (debate)2
dcterms:Language	"sv"^^xsd:language2
lpv:document identification number	"en.20100325.3.4-036"2
lpv:hasSubsequent	lp_eu:2010-03-25-Speech-4-0372
lpv:speaker	lp:Olle Schmidt2
lpv:spokenAs	member; ECON (2009-07-16--2012-01-18)3 substitute; Delegation to the EU-Armenia, EU-Azerbaijan and EU-Georgia Parliamentary Cooperation Committees (2009-09-16--2010-11-21)3 member; Special Committee on the Financial, Economic and Social Crisis (2009-10-08--2011-07-31)3 substitute; IMCO (2009-07-16--2012-01-18)3 substitute; Delegation to the Euronest Parliamentary Assembly (2009-09-16--2014-06-30)3 member; Delegation to the ACP-EU Joint Parliamentary Assembly (2009-09-16--2014-06-30)3 member_of_the_bureau; ALDE (2009-07-20--2014-06-30)3 substitute; CONT (2009-07-16--2010-11-21)3 unknown; Folkpartiet liberalerna (2009-07-14--2014-06-30)3
lpv:translated text	"Mr President, Commissioner, Mr Trichet, the euro is ten years old and it has largely passed its tests, even though the current turbulence is not over yet. I am certain that, already today, we will see the first important step towards a European solution, with or without the International Monetary Fund. We share a common destiny, as Mr Trichet so rightly said. The alternative, if it fails, would, of course, be a frightening prospect. The ECB has been a bastion of strength when the financial storms have hit. It is worth repeating that the euro has been a success during the financial crisis and it has been an anchor in Europe, including for countries outside the euro area. The euro has provided stability and the conditions for creating millions of new jobs, and that must not be forgotten in these days when everyone is talking of a crisis. Greece’s problems and those of other euro area countries cannot be blamed on the euro. Careless expansion of public expenditure will result in problems regardless of the choice of currency. On the contrary, the economic crisis would have been considerably worse if we had not had the cooperation that the euro involves. We would have had to deal with speculation and competitive devaluation among more than 20 national currencies. Many of us have experienced this and I myself sat on a Swedish finance committee with a 500% interest rate. The crisis in Greece naturally demonstrates the fact that the pact for keeping the budget deficit at a low level must be tightened up. The deficit is still extremely large. We need better supervision and coordination of economic policy at EU level, in other words, financial coordination that is worthy of the name. I would like to finish by saying something about speculation. Sometimes, when countries are subject to speculation, as my own country was in the 1990s, it actually provides us with a good opportunity to organise the measures we take. When we were in a difficult situation, as a result of George Soros, among others, we knew what to expect and so we took the necessary measures. That is something that those of you in the countries that are currently experiencing difficulties will have to think about."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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