Local view for "http://purl.org/linkedpolitics/eu/plenary/2001-07-04-Speech-3-154"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2001-07-04"^^xsd:date2
dcterms:Is Part Of	lp_eu:VOTE2
dcterms:Language	"nl"^^xsd:language2
lpv:document identification number	"en.20010704.3.3-154"2
lpv:hasSubsequent	lp_eu:2001-07-04-Speech-3-1552
lpv:speaker	lp:Erik Meijer2
lpv:spokenAs	unknown; Socialistische Partij (1999-07-20--2004-07-19)3 member_of_the_bureau; EUL/NGL (1999-10-13--2004-07-19)3 member; Committee on Regional Policy, Transport and Tourism (1999-07-21--2002-01-14)3 member; Delegation to the EU-Slovak Republic Joint Parliamentary Committee (1999-09-29--2002-01-14)3 substitute; Temporary committee on human genetics and other new technologies in modern medicine (2000-12-13--2001-11-29)3 substitute; Delegation to the EU-Czech Republic Joint Parliamentary Committee (2000-11-09--2002-01-14)3 substitute; Committee on the Environment, Public Health and Consumer Policy (1999-07-21--2002-01-14)3
lpv:translated text	". In the run-up to the compulsory exchange of bank notes and coins of eleven Member States for euro coins and notes all attention is being focused on the annoyance that this will generate shortly after the turn of the year. Mr Maaten’s proposals attempt to make that process run faster and more efficiently. But the fundamental problem is more connected with the annual report of the European Central Bank. Unlike Mrs Randzio-Plath, the rapporteur, I see no reason for compliments. The value of the euro had to be kept up by means of a stability pact, which forces national governments to reduce the level of expenditure and refrain from taking out loans. That policy has failed completely, now that the euro has fallen considerably below the dollar, not temporarily, but for a considerable amount of time. In the meantime, in a number of Member States, including the Netherlands, annual inflation is already higher than the interest rate. Price stability will probably not survive the coming turn of the year. It no longer looks as if the euro will gain a position as an international currency, as the dollar has. As a result, it is not possible either to follow the American model and pass on a portion of the annual government deficit to the rest of the world, which continues to compete for possession of an exchange currency that is falling in value. In short, the ECB’s efforts have resulted in a flop that forces us to reject this annual report."@en1

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