Local view for "http://purl.org/linkedpolitics/eu/plenary/2001-05-03-Speech-4-023"

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"en.20010503.2.4-023"2
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"Mr President, Commissioner, the action taken by the Commission and Ecofin against Ireland was hasty and excessive. It has damaged the EU and EMU – not just in Ireland, as has been pointed out previously. It has put additional wind into the sails of the opponents of EMU in the countries outside the euro zone. 'That is how much the national freedom to determine one’s own financial and tax policy is worth,’ the opponents of EMU in my homeland cheerfully chuckle. You will no doubt soon hear Herman Schmid express something similar. There is an alarming tendency towards complete centralisation within the Euroland countries. The relative weakness of the euro against the dollar seems to have triggered a number of excessive reactions. Obviously, there is a common monetary policy, but financial, budgetary and tax policy must not and cannot be managed in detail from Brussels. EMU is an instrument for increasing the economic strength of Europe and therefore a certain amount of acceptance is required of the fact that all euro zone countries do not move at exactly the same rate simultaneously. The next time that we get a case like Ireland’s, I hope, Commissioner, that the Commission will think carefully first. EMU must not become a straightjacket for Europe."@en1

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