Local view for "http://purl.org/linkedpolitics/eu/plenary/2000-05-17-Speech-3-054"
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"en.20000517.4.3-054"2
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"Mr President, Commissioner, ladies and gentlemen, firstly, I would like to point out, as did the previous speaker, that a functioning internal market needs a single currency. Secondly, there is a rumour that needs to be dispelled right from the outset of this debate, to the effect that the external value of the euro has something to do with the prospect of Greece adopting the single currency. It is clear that the external value of the euro has nothing to do with this but everything to do with the lack of resolve shown by certain Member States when it comes to implementation of the necessary structural and liberalisation measures, and it can also be attributed to the fact that there are a number of differences – starting with taxation levels – in the ways that Europe and the United States structure their economies.
Therefore, on behalf of my Group, I would like to congratulate Greece and acknowledge the efforts and progress it has made en route to membership of the Economic and Monetary Union. Further to what I have already said about the convergence report, we are very much in favour of Greece joining the Economic and Monetary Union. This clear endorsement is not diminished in any way when, so as to remain true to our firm belief in a strong euro, sustainability, price stability, and equal treatment of all countries, we inevitably make reference to the need for Greece to keep up the good work, and encourage it to do so, and also point out that a great deal still remains to be done in Greece before sustainable price stability and a balanced low-debt state sector are achieved.
I say this because whilst we recognise that there has been a sharp decline in the rate of inflation, this can be attributed in part to transient factors. It is therefore absolutely essential for Greece to step up its efforts to support sustainable price stability. I say this because substantial structural reform and continuous budgetary surpluses are required under the terms of the Stability and Growth Pact, so as to gradually reduce the public debt ratio to 60%.
We are in favour of Greek membership, but would call upon and encourage Greece to continue to implement the necessary measures and to guarantee sustainability in the spirit of the Stability Pact.
On a final note though, I would also like to appeal to Sweden to at last discharge its political duties, now that it has fulfilled many of the criteria. This is because the Swedish government is currently dragging its heels over joining stage 2 of EMU and amending the bank of issue law, which would guarantee the independence of the ECB when a new member joins."@en1
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