Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-07-11-Speech-3-279"

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"en.20070711.27.3-279"2
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"( ) I would like to emphasise that variations in the rate of inflation are largely the result of structural factors, not unsound policies. There has been a two-fold increase in salaries in the new Member States of the European Union and the share of energy- and raw materials-intensive output in these countries is greater than in the more developed states of the Eurozone. At the same time, a major portion of the energy- and raw materials-intensive output is destined for the Eurozone. Because of such reasons, the new Member States are more susceptible to fluctuations in prices of energy and raw materials; by the same token, they serve as a buffer, absorbing price impacts on the states of the Eurozone. However, inflationary pressures in the new Member States may also result from high growth, rising productivity and catching up with the standards of more developed countries. After all, this is one of the goals of EU membership. I therefore support the demand to review the convergence criteria, notably with regard to inflation, so that they do not become instruments for creating new divisions in Europe."@en1
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3http://purl.org/linkedpolitics/rdf/spokenAs.ttl.gz

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