Local view for "http://purl.org/linkedpolitics/eu/plenary/2000-05-16-Speech-2-212"
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"en.20000516.9.2-212"2
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"I will try to reply briefly, although these are complex questions and I will therefore have to give this point some attention.
Firstly, with regard to increasing cooperation in terms of coordinating economic policies, I believe that it is necessary and positive and is one of the elements which is emerging from this current crisis. The French President has highlighted this and it will obviously be a point for debate during the next presidency.
I do not agree with the theory that the euro’s development is leading to a fall in employment in Europe and an increase in employment in the USA. Transfers of capital may generate additional activity in the United States, but the positive increase in exports is generating activity in Europe. It would require a very complex and profound debate to deal with this issue.
In any event, what I do believe – as I said earlier – is that the euro, at the moment, has an exchange rate which, if we analyse it in relation to its components and its historical situation, is not that different from situations which have existed at other times. I am convinced that this is a transitional situation which will improve during this year."@en1
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