Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-06-19-Speech-2-354"
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"en.20070619.44.2-354"2
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"Mr President, it is true that the situation in the United Kingdom – as I have already said, and as you have repeated – is not the same. The United Kingdom has an ‘opt-out’ clause, and, therefore, the comments I made earlier with regard to the 12 countries that do not have that clause do not apply to it.
Even with that clause, however, the day will come – and I hope that you and I will see it soon – when the British authorities, regardless of that clause, decide to prepare for joining the euro because they believe that it is positive for the British economy. When will that day come? If you ask me whether I believe it will be this year, I shall say no, I do not believe that it will be this year.
My impression is that, in the current phase of the economic cycle of the British economy and of the euro zone economy, the arguments in favour are not going to increase over the coming months or in the immediate future. I always respond to that question with a particular observation, however. I believe that the time will come when the circumstances that the British, being the good pragmatists they are, analyse each month with regard to the pros and cons of joining the euro will change, and will show the British citizens, British politicians and the City of London, to name three significant parties in this regard, that it will be good for the British economy to enter the euro at a particular time. I am sure that that time will come, but, to be frank, I believe that it will come after the next crisis."@en1
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