Local view for "http://purl.org/linkedpolitics/eu/plenary/2003-07-03-Speech-4-034"
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"en.20030703.2.4-034"2
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"Madam President, there is a lot in this discussion with which I can agree. The euro is not only a means of payment. Instead, it is part of an economic policy and an important key element of EMU policy. If the euro is to function, a lot of things are clearly required. Mr Gasòliba i Böhm indicated a number of them in his report, and other factors were also addressed in the debate. Much more harmonisation and coordination of economic policy is required. Mr Gasòliba I Böhm goes so far as to talk about federal budgetary principles. What is required is coordination on tax policy, a structural policy and greater mobility for the European labour force. In short, a range of measures may be taken to reduce the large differences that exist between national economies. For example, it would be possible for Ireland and Germany to have the same policy – two countries that, at present, quite clearly have a need for different policy approaches.
Mr Gasòliba I Böhm talks about the need for institutions. If the matter were to be summarised, there could even perhaps be talk of the need for a European state power in the economic sphere. He proposes having an economics tsar when it comes to the eurozone’s relations with the surrounding world.
It is precisely all this that gives rise to such a lot of scepticism towards the euro project in my own country of Sweden. We fear it would mean the small economies being integrated into a European economy in such a way that they would be unable themselves to exercise control and that would not offer any democratic guarantees, either. There is therefore considerable hesitation, and more than half of the Swedish population will presumably vote ‘no’ in the forthcoming referendum. That is also why the Swedish referendum will be followed with such great interest in the candidate countries. So far, only 12 of what will soon be a total of 25 Member States are in the eurozone. The 13 countries that are still outside it have obvious doubts. People are aware of the ups and downs of the German debate and of the problems there are, and they think it is better to wait.
I appreciate, however, that there may one day be a need for lower denomination notes, especially if economic problems were to arise in Europe."@en1
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