Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-10-24-Speech-2-299"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2006-10-24"^^xsd:date2
dcterms:Is Part Of	lp_eu:Commission Question Time2
dcterms:Language	"es"^^xsd:language2
lpv:document identification number	"en.20061024.33.2-299"2
lpv:hasSubsequent	lp_eu:2006-10-24-Speech-2-3002
lpv:speaker	lp:Joaquín Almunia2
lpv:translated text	"Mr Posselt, we must not confuse the Member States’ obligation to prepare for adoption of the single currency with the actions that the Commission and the Council may take — and are taking in fact — in relation to Member States that are not complying with the provisions of the Treaty, in the field of budgetary discipline, for example, as in the case of Hungary and other Member States. Preparations for adoption of the single currency relate to budgetary discipline, but also the stability of exchange rates and the development of interest rates, which is something decided upon by the markets according to the economic situation of the Member States. They also involve legal reforms, bringing the status of the Central Bank of the Member State in question into line with the rules laid down in the Treaty for the European System of Central Banks, and they also relate to the development of inflation. The factors for complying with the criteria for adoption of the single currency therefore depend partly on political decisions to be directly adopted by the governments or parliaments of the Member States, and partly on factors that are not always under the Member States’ control. Consequently, although it will theoretically be possible in the future to apply infringement procedures to States that are not making preparations, we do not currently believe it to be necessary or even desirable."@en1

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