Local view for "http://purl.org/linkedpolitics/eu/plenary/2001-02-15-Speech-4-231"

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"Madam President, as an explanation of the EU’s serious reprimand to Ireland, Mr Prodi expressed the opinion that we must also be able to punish the best pupil in the class. That really is a peculiar observation to make. It would be more natural to hold the best pupil in the class up as a model. That was how it was when was at school. Ireland’s economy is prospering. Last year, growth increased by 10 per cent. Unemployment is at less than 4 per cent, and the country also has a genuine budget surplus. Last year, growth increased by 10 per cent. Unemployment is less than 4 per cent, and the country also has a genuine budget surplus. The impoverished Emerald Isle has turned into a Celtic tiger. The EU has therefore been too hasty in issuing a warning to Ireland, since the situation of the country is being disregarded. Ireland is a small country dependent upon foreign trade and with an economy closely linked to the British and American economies. The falling rate of the euro has therefore had more of an impact upon Irish inflation than upon that of other EU countries. Inflation has fallen from 6 per cent in November to 3.9 per cent in January, and there is everything to indicate that it will continue to fall. The Netherlands now has higher inflation. As you yourself stated, Commissioner, Ireland’s policy cannot jeopardise the way in which EMU operates. It is in this connection that you refer to Article 99 of the Treaty, and it is then that that argument falls down. Ireland accounts for only 1 per cent of the EU’s total GDP. For Ireland, the threat of inflation is mainly from external sources, but the EU and yourself are demanding internal measures to get inflation down. The EU’s action is politically unwise and does not increase confidence in the EU and EMU, above all in those countries which are at present outside the eurozone. I want to conclude by asking Mr Solbes Mira why he did not give Ireland more time."@en1

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