Local view for "http://purl.org/linkedpolitics/eu/plenary/2003-07-03-Speech-4-027"

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"Madam President, many thanks to my colleague, Mr Gasòliba i Böhm, for an excellent report which will be of great help in the ongoing referendum campaign in my country. Clearly, the introduction of the euro has been very successful. We have finally obtained a practical common European symbol. The euro is already the world’s second largest currency. It has strengthened European identity and bound the twelve countries together. Even if economic development is shaky, the euro has already shown positive economic advantages, strengthened trade and increased investments for the eurozone countries. One of the aspects, which was also addressed by Mr Berenguer Fuster and which has been discussed in connection with the introduction of the euro, is that of whether there have been price rises and, if so, unfair ones. Eurostat’s statistics clearly show that there was a very small, one-off effect of between 0.1 and 0.2% upon the introduction of the euro. Within some sectors of the economy, or in certain industries, there were, however, significant price rises, particularly in certain countries. The overall effect for those inhabiting the eurozone has, however, been very small. It is good that we should now take up this issue and ask the Commission to investigate it further. One thing we have found is that pro-active consumers and two-currency price labelling have prevented underhand price rises. Let us not, however, be deceived into thinking that the price rises were higher than they in actual fact were, and let us not make use of that argument in debates, either. The big advantage of the euro is, however, that it has provided economic stability in politically and economically very difficult times. In spite of great unrest in the world, partly due to the Iraq war, European currencies have not tossed around on a stormy monetary sea, as in actual fact happened in the nineties. The euro has provided stability and security. That is a fact that should be mentioned more often. This should be emphasised in the discussion of the euro’s advantages and disadvantages, particularly in those EU countries that at present enjoy the stability of the euro without participating fully in the cooperation and so without accepting full responsibility, either."@en1

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