Local view for "http://purl.org/linkedpolitics/eu/plenary/2005-04-11-Speech-1-058"
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"en.20050411.14.1-058"2
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"Mr President, the very strong euro is creating huge problems in the economically less developed countries of Europe.
We have problems with competitiveness. Non-proprietary goods are not selling. Mercedes are selling, of course, because they are a brand name; French perfumes are selling, because they are brand names, but simple goods from factories in Greece and other countries are not selling, because they are very expensive. There is a huge problem with the very strong euro. It is impossible for my country to suddenly cover this deficit when factories are closing, when factories are relocating outside Greece because they cannot meet the costs of the very strong euro. We cannot sell our products. We have no tourists. No one goes on holiday to a Mediterranean country with such a strong currency. They go to the coast on the other side.
Europe therefore needs to decide to peg the euro to the dollar, because otherwise we shall shortly be facing a serious problem. We need to think and look ahead, so that the peoples of Europe have a tolerable standard of living rather than the miserable standard of living into which the very strong euro will force them."@en1
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