Local view for "http://purl.org/linkedpolitics/eu/plenary/2004-10-26-Speech-2-133"

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"en.20041026.9.2-133"2
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". I voted in favour of the report before us, because I believe, as the report says, that after five years, Economic and Monetary Union can thus far be considered an enormous success, thanks largely to the work of the European Central Bank and its predecessor, the European Monetary Institute. It should be acknowledged that this is due to the diligence of Member States – particularly Member States such as Portugal – that have made sterling efforts to comply with the Stability and Growth Pact. Nevertheless, also in accordance with the report, I recognise that the fragility of the European economy is not the result of its monetary policy, but is essentially due to the absence of structural reforms aimed at greater international and global competitiveness."@en1

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