Local view for "http://purl.org/linkedpolitics/eu/plenary/2000-07-05-Speech-3-029"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2000-07-05"^^xsd:date2
dcterms:Is Part Of	lp_eu:ECB annual report2
dcterms:Language	"it"^^xsd:language2
lpv:document identification number	"en.20000705.2.3-029"2
lpv:hasSubsequent	lp_eu:2000-07-05-Speech-3-0302
lpv:speaker	lp:Renato Brunetta2
lpv:spokenAs	member; EPP-ED (1999-07-20--2004-07-19)3,3 substitute; ECON (1999-07-21--2002-01-14)3,3 vice-chair; Committee on Industry, External Trade, Research and Energy (1999-07-21--2002-01-14)3,3 unknown; Forza Italia (1999-07-20--2004-07-19)3,3 substitute; Delegation to the EU-Hungary Joint Parliamentary Committee (1999-10-08--2002-01-14)3,3 member; Delegation to the EU-Slovenia Joint Parliamentary Committee (1999-10-06--2002-01-14)3,3
lpv:translated text	"Mr President, Mr Duisenberg, Mr Solbes, I share the satisfaction Mr Radwan expressed in his report regarding the importance of the objective of maintaining price stability, which the Central Bank achieved by bringing the rate of inflation in the euro area down to minimal levels. Furthermore, I share the rapporteur’s satisfaction in noting that the ECB has stood by its commitment to publish information regularly on the financial variables in its possession, the economic forecasts and the econometric models used as the theoretical basis for the monetary policy it has implemented. It is important that the principle of transparency is affirmed and it is a good thing that the ECB has set communication standards which could be an excellent point of reference for the activity of the central banks of the individual countries. However, let us guard against interpreting the principle expressed in Article 105 of the Treaty too freely, for Article 108 reads: “When exercising the powers and carrying out the tasks and duties conferred upon them by this Treaty and the Statute of the ESCB, neither the ECB, nor a national central bank, nor any member of their decision-making bodies shall seek or take instructions from Community institutions or bodies, … or from any other body.” The monetary policy is certainly a lever which is capable of determining a country’s economic performance, for better or for worse, but it is for this very reason that we must not give the ECB responsibilities which cannot fall within its remit, either under the Treaty or in the light of the basic rules of economic policy. The poor development of the macroeconomic variables in some of the countries of the euro area has been linked, very superficially but incorrectly, to the creation of the single currency: imbalances and unfavourable trends in some countries cannot be blamed upon the euro and still less upon the Central Bank’s monetary policy, but they can be attributed to the absence of an unambiguous economic policy in Euroland and the lack of structural reforms at the level of the individual national systems."@en1
lpv:unclassifiedMetadata	"(Applause)"1

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