Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-04-20-Speech-2-341"
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"en.20100420.12.2-341"2
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"A wealth of possibilities exist for regulating a country’s currency – provided that country has its independence. However, that is precisely what members of the euro area do not have, because they dumped a great many of the instruments they used to have in Frankfurt. Moreover, it is not correct that interest rates do not differ within the euro area, for there is great variation in private interest rates for both medium- and long-term borrowing, and the Greek bond rate is much higher than the Danish bond rate, for example – despite the fact that we have our own currency.
What I would like the Commission to give an answer to or concede here is whether it will face up to the fact that were Greece not bound by the position set out by Frankfurt, then Greece would have devalued, and this devaluation would have remedied a large part of the problems that Greece is facing."@en1
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