Local view for "http://purl.org/linkedpolitics/eu/plenary/2000-05-17-Speech-3-020"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20000517.2.3-020"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:spokenAs | |
| lpv:translated text |
"Mr President, reading the broad guidelines for the economic policy presented by the Commission for the year 2000 leaves one with a strange impression that something is missing because nowhere is there any mention of the single currency, except in a brief and fleeting reference, stating the importance of the Maastricht criterion regarding the rationalisation of public finances or the need to gear monetary policy towards price stability.
There is not a word, however, on the current depreciation of the euro and its influence on the economy and economic policies. This seems all the more surprising because every few pages the Commission document reiterates the idea that efficiency demands an overall strategy.
The same is unfortunately true of the European Parliament’s report since, out of the 35 points raised in the resolution, not one relates to the single currency, and it is only briefly referred to in the recitals.
Apparently, the rule of silence is prevailing, as it did when the major groups within Parliament rejected the proposal from the Union for a Europe of Nations Group to organise, as of today, a debate on the implications of fluctuations in the euro. This debate has been deferred once again, even though there is a great deal to be discussed. For years, all the economic and financial advantages a strong euro was going to offer have been trotted out for our benefit. Now the euro is weak, are we to assume that the loss of these advantages has no implications worth mentioning? This is surely some mistake! The weak euro favours exports, as is often boasted. It also, however, presents serious disadvantages which are concealed, such as the misappropriation of capital, third party buyouts of euro zone businesses or weakening of the incentive for structural reforms, even though these are so necessary.
Finally, the basic problem still remains. This depreciation in the euro has occurred because it is perceived as an artificial currency, but until this is clearly stated it will not be possible to remedy the situation. In this instance too, then, let us hope that the European Parliament agrees to organise a debate in the near future, before it is too late."@en1
|
Named graphs describing this resource:
The resource appears as object in 2 triples