Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-06-20-Speech-3-075"
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"en.20070620.3.3-075"2
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"The Maltese public’s support will also be influenced by the impact of eurozone membership on ordinary citizens, the business community and the economy itself. Three major factors stand out. The first is the success of the transition. After perhaps a low start, preparations seem to be gathering pace and no doubt it is imperative that consumers and operators keep tight control of the process.
So far we have tended to hear only about the pros, in terms of the benefits to Maltese consumers when they travel abroad, the improved competitiveness of Destination Malta for tourists, lower transaction costs for businesses engaged in intra-EU trade, and so forth. But we have heard very little about the potential disadvantages.
On the one hand, Malta needs to adapt to policies, adjustment mechanisms, and measures taken by the European Central Bank, such as on interest rates and monetary aggregates, that will strongly influence our destiny. On the other, our fulfilment of the membership criteria cannot rely on the results of a crash economic diet but must be based on sustainable economic policies that ensure that we do not infringe the rules."@en1
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