Local view for "http://purl.org/linkedpolitics/eu/plenary/1999-11-03-Speech-3-059"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.19991103.6.3-059"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:translated text |
"Madam Speaker, Members of the European Parliament, may I first say how pleased I am to have the opportunity to come here to meet you and especially to be allowed to contribute my views to the macroeconomic dialogue, which is only just beginning. It is thus a new process. The adoption of a single currency in Europe has increased the need for dialogue on economic policy. Both the ECOFIN Council and the presidents for the euro area have seen evidence of this in their work.
The participants in this dialogue were specified in the conclusions of the European Council at Cologne, and it was declared that the limited number of participants would ensure the success of the dialogue. Naturally, we have acted accordingly. The conclusions of Cologne also emphasised the fact that the macroeconomic dialogue is perceived as a sustainable and on-going process. For this reason, in its arrangements, Finland has wanted to look ahead with an emphasis, above all, on continuity. Therefore, future presidents of the Council will also be taking part in the meeting, whose tasks it will be to develop and further deepen the dialogue.
The dialogue is not about coordinating economic policies; it is linked with those current challenges which concern the development of economic policy cooperation. Much of the decision making that has an impact on economic development and employment still takes place within the Member States despite the introduction of the economic and monetary union. Above all, it is a question of budgetary policy and determination of wages. Can we be sure that the conditions and demands created by economic and monetary policy have been internalised? From the point of view of individual Member States, there is a risk, not of inflation, but of excessive nominal pay increases, which will lead to a sharp decline in competitiveness and profitability in business and, consequently, to job losses.
Still, there is no reason to paint such a sombre picture. It is, however, vital that those who make decisions on economic policy – especially on monetary policy – can feel confident. That is why we need dialogue and reassuring signals, just as we need the decision makers to act swiftly and decisively in potential problem situations. This is a positive way of promoting the prospects of an economic policy which favours economic growth and employment.
As part of the dialogue, we also have to improve the statistics on economic development – including wage and cost trends – and the flow of information. The two levels of dialogue – technical and political – complement each other successfully. Discussions must be based on facts, and it would be better still if we could agree on these facts. It is, above all, a question of being realistic.
In order for the euro to quickly acquire the weight it deserves, not only as part of the international economy but also in discussions concerning the economic policy of the Union area, the common points of view on economic policy in the euro area in particular must be explored in more depth. The European Council in Helsinki is expecting a report from the ECOFIN Council on the development of coordination with respect to economic policy, which again will help to step up this debate.
The economic and monetary union opens many new possibilities for Europe. We must seize this opportunity and do everything possible to safeguard economic growth and employment development. The best way to do this is to ensure that the benefits of a single currency and a single market are fully exploited. The economic and monetary union means a new beginning for Europe, both in terms of entrepreneurship and of economic policy.
The European Employment Pact, which was signed last summer at the European Council at Cologne on the initiative of Germany, is an initiative which will promote mutual understanding and a reform of the European economies. The macroeconomic dialogue is part of the European Employment Pact. The implementation of this Pact begins with the organisation of the first macroeconomic dialogue, which will take place on Monday next week at the meeting of the ECOFIN Council. For the first time, all the prime movers at Union level will be seated at the same table: representatives of the Council, of the Commission, of the European Central Bank and of the parties in the labour market. Until now we have met up with representatives of the parties in the labour market twice a year, and been engaged in a separate dialogue with the ECB. Now we are coming together at the same event.
The participation of the ECB is a significant feature of this. It is a clear indication that the bank is prepared, for its own part, to be involved in open and direct discussions, and to justify its reasoning and its actions.
It is important to recognise the main principles of dialogue. They ensure that the independence and autonomy of the parties involved are respected. The dialogue will be based on confidentiality, which means that there is no intention of issuing joint conclusions or passing joint resolutions. The time will be used for discussions. There will be no public report on the discussions: each side will report to their own quarter on the content of the meeting.
We may question the usefulness of the parties having confidential talks behind closed doors. The answer is that this dialogue is primarily aimed at generating an understanding of the fundamental principles of economic policy. It complements – but by no means excludes – public debate on economic policy, which takes place in any case. It is a lot easier to begin discussions on the basis of a common viewpoint and a joint analysis of the situation. It is not possible, of course, to arrive at anything as concrete as this at European level, nor is there reason to talk about negotiations or coordination. Even so, we believe that the dialogue will make a positive contribution to the climate of debate surrounding the issue of economic policy.
In Finland, the responsibility for dialogue on a political level lies with the Economics Council, whose duties and objectives are of a general and unofficial nature. We have found how beneficial it is to maintain contact through discussions, especially in difficult times. These discussions have concerned matters of principle regarding social and economic development. Similar practices exist in several countries. National experience and procedures, of course, are not directly transferable to European level but there is plenty to do at that level, too. Macroeconomic dialogue at European level cannot take the place of national dialogue, either. We need both. We just have to find the right content and form for the dialogue at European level.
In our presidential capacity, we have also wanted to make sure that this dialogue works. It is for this reason that all 15 Member States are not present, only the representatives of the Council. This, too, is significant. The debate should not focus on the situation and problems of individual countries – the matters on the agenda concern the whole area, a joint area of responsibility. This provides significant parameters and policy guidelines."@en1
|
Named graphs describing this resource:
The resource appears as object in 2 triples