Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-10-24-Speech-2-301"
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"en.20061024.33.2-301"2
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"Mrs Budreikaitė, I do not believe that the future of the euro is in question. Not at all. A few years after its launch, in 1999, and five years after more than 300 million were able to carry it in their pockets for the first time in the form of coins and notes, the euro is now a reality which those who use it consider to be a success.
In my view, therefore, the issue is not whether the euro has a future; the question is whether the countries that are not preparing properly for the adoption of the euro are going to suffer the consequences in the future. That is the real question. Each time I have contact with the authorities of the countries that are to adopt the euro in the future but which do not yet comply with the criteria laid down in the Treaty, I urge them to adopt a credible and effective strategy for complying with those criteria and adopting the single currency.
For some years we have been enjoying abundant liquidity in the financial markets, interest rates are low and memories of monetary crises and volatile exchange rates are fading in Europe. There is no guarantee, however, that those situations that we saw in the past, before the existence of the euro, are not going to re-emerge in the future. Let us pray that they do not, but it could happen. We have seen 311 million Europeans enjoy the advantages of having a common currency, and we have also seen all of the Member States of the European Union enjoy the advantages of the fact that twelve of them have adopted the single currency.
There are therefore more than enough reasons for the Member States that have yet to adopt the euro to be convinced that they must prepare and adopt economic policy decisions aimed at fulfilling these criteria and strengthening a currency which, seven years after its birth, is already the world’s second largest currency."@en1
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