Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-07-11-Speech-3-292"

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"en.20070711.27.3-292"2
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"( ) Last week I attended talks at the Ministry of Finance in Dublin. The Irish economy has been growing at the remarkable rate of 6% on average over the last 10 years. Per capita GDP is 40% above the EU average. Unemployment is at 4.2%, and the Irish will clearly manage to attain the Lisbon Strategy goal as regards unemployment. Their concern, however, is that inflation will reach 5% this year. Had Ireland not already been part of the Eurozone, it would not have been able to join today under the current regulations. In this context I would like to recall that in fast growing economies structural inflation is higher. Such a situation is part and parcel of the monetary union. Inflation is a part of the process, particularly for the new Member States that are seeking to catch up with the more developed countries. The Council and Commission should therefore develop a new analysis and review the convergence criteria. It is essential to continue with political discussions concerning the application of these criteria to the future members of the Eurozone."@en1
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