Local view for "http://purl.org/linkedpolitics/eu/plenary/2005-02-22-Speech-2-027"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2005-02-22"^^xsd:date2
dcterms:Is Part Of	lp_eu:Economy/Public finances2
dcterms:Language	"en"^^xsd:language2
lpv:document identification number	"en.20050222.4.2-027"2
lpv:hasSubsequent	lp_eu:2005-02-22-Speech-2-0282
lpv:speaker	lp:Eoin Ryan2
lpv:spoken text	". Mr President, we have all seen the success of the internal market, where there is free movement of goods, persons, services and capital. It is clearly the case that the single European currency system is operating well. It commands the confidence both of the citizens of Europe and of the business and investor communities. For the European Union to succeed, there must be broad economic coordination from the 25 Member States. This is an integral part of the overall strategy to implement the Lisbon process, so as to guarantee that the European Union becomes the most competitive economy in the world by 2010. However, EU governments are going to have to hammer out an agreement as to how the rules governing economic and monetary union are going to operate into the future. The bottom line is that some countries are running up serious budget deficits, which is clearly in breach of EMU criteria. Some countries want the rules governing the operation of the single currency regime to be opened up and made more flexible. I feel that this is an issue at which EU governments should look carefully so as to ensure that they can build the necessary infrastructure projects in the transport, energy and telecommunications fields. I am not taking a belligerent approach with regard to the operation of EMU criteria, but we cannot allow the situation to go on forever where countries are running up large budget deficits and are clearly in breach of so-called strict rules governing the operation of the single currency regime. That undermines the credibility of the overall EMU framework. If the broader international investor community is to have maximum confidence in economic and monetary union within the EU, the EU must put its house in order. We have all seen how volatile currency markets can be. Either all countries comply with the rules and have confidence in the system or we will have a credibility problem with regard to the issue for an indefinite period."@en1
lpv:spokenAs	substitute; DEVE (2004-07-21--2007-01-14)3 member; ECON (2004-07-21--2007-01-14)3 unknown; Fianna Fáil Party (2004-07-20--2009-07-13)3 member; Delegation for relations with the countries of South Asia and the South Asia Association for Regional Cooperation (SAARC) (2004-09-15--2007-03-13)3 member; UEN (2004-07-20--2009-07-13)3 substitute; Delegation to the ACP-EU Joint Parliamentary Assembly (2004-09-15--2009-07-13)3
lpv:unclassifiedMetadata	"Ryan (UEN ),"1 "on behalf of the UEN Group"1

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