Local view for "http://purl.org/linkedpolitics/eu/plenary/2000-07-05-Speech-3-025"
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"en.20000705.2.3-025"2
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"Mr President, ladies and gentlemen, I do not intend to re-open with Mr Duisenberg the debate which we held in committee a while back.
The Group of the Greens totally disagrees with the policy of raising interest rates, which has been applied since the end of 1999. We are as displeased by the second period of management by the Bank, starting in the last quarter of 1999, as we were satisfied with the first, not because the Bank overestimates the importance of variations in exchange rates against the dollar – it does in our view, but that is by the by – but because the debate on exchange rates obviously masks the Central Bank's aversion to growth and its serious underestimation of the potential rate of growth of the European Union. Yes, there are difficulties with a rate of growth of 3% but these difficulties imply that there should be more, not less investment and, hence, lower not higher interest rates.
What I would like to stress today is the scandal that is the second part of paragraph 11 of the Radwan report. To dare to say that the French 35-hour law is responsible for the fall in the euro because it has weakened European competitiveness overall is an intellectual lie, pure and simple.
It was after this law was announced that the Toyota factory – and many others – decided to open in France. If the MEPs consider that the Toyota factory does not know what it is doing, that is their right; that these MEPs claim to suggest such absurd rules to national governments and European social policy, frankly, seems to us..."@en1
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