Local view for "http://purl.org/linkedpolitics/eu/plenary/1999-12-02-Speech-4-017"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"1999-12-02"^^xsd:date2
dcterms:Is Part Of	lp_eu:Introduction of the Euro2
dcterms:Language	"fr"^^xsd:language2
lpv:document identification number	"en.19991202.2.4-017"2
lpv:hasSubsequent	lp_eu:1999-12-02-Speech-4-0182
lpv:speaker	lp:Robert Goebbels2
lpv:spokenAs	vice-chair; PES (1999-07-20--2004-07-19)3 member; Members from the European Parliament to the Joint Parliamentary Assembly of the Agreement between the African, Caribbean and Pacific States and the European Union (ACP-EU) (1999-09-14--2002-01-14)3 member; ECON (1999-07-21--2002-01-14)3 substitute; Committee on Industry, External Trade, Research and Energy (1999-07-22--2001-03-13)3 unknown; Parti ouvrier socialiste luxembourgeois (1999-07-20--2004-07-19)3
lpv:translated text	"Mr President, I wish to begin by congratulating Helena Torres Marques on her excellent report. Mr President, the euro is already the second most important currency in the world. The actual introduction of the euro from 2002 will dramatically increase the demand for euros. Although the euro has depreciated over the last few months in relation to the dollar, this is not only due to the current difference in the dynamism and the performance of the American and European economies. The fact that, for the moment, the euro is only a representative currency and will not become a paper currency until 2002, also explains the certain lack of interest among the European and international public in this new currency that you cannot yet feel or touch. Nevertheless, the financial markets in general have welcomed the euro. Since it was introduced at the beginning of this year, the volume of private bonds issued in euros has increased by over 50%. For the first seven months of this year on the international capital markets, issues in euros represented 27% of international issues. Meanwhile, issues in dollars over the same seven month period fell from 57% to 50%, which shows that there is already a very strong real demand by the markets. There is another problem, to which I should like to draw the attention of this House, and that is the huge money supply of Deutschmarks, French francs and other European currencies circulating outside the frontiers of Europe. According to a report by the German Bundesbank, over one hundred billion Deutschmarks are used as a daily reserve currency by the citizens of Eastern Europe. There are also billions of French francs circulating in French-speaking Africa and all this money must be changed into euros. For the moment, the people holding these banknotes are trying to move towards the dollar, which also perhaps explains, to a certain extent, the fluctuation to the detriment of the euro. I should like to ask the Commission whether it should not take the initiative in drawing the attention of the Central European Bank and the national central banks to this problem, that is to say, the necessary exchange of all the European currencies that will disappear in 2002 with the actual introduction of the euro. I believe that there is a real problem here which has not been adequately discussed and in respect of which the Commission would be well advised to take an initiative in order to organise this exchange with dignity."@en1

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