Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-06-20-Speech-3-153"
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"en.20070620.17.3-153"2
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".
It is well known that we opposed the creation of European Economic and Monetary Union and the euro. Indeed, we voted against Parliament’s resolution of 2 May 1998 establishing the Eurozone, which was originally made up of 12 countries, including Portugal. We feel that monetary policy, and the prerogative of issuing currency, lies exclusively with the Member States, and therefore reject this transfer of sovereignty, which will make it impossible to address the economic and social problems in each country, including Portugal.
At this time, the enlargement of the Eurozone is based on political criteria – for example the strengthening of political integration and of the Eurozone itself – as this issue amply demonstrates, given that Malta does not fulfil all of the nominal convergence criteria. However, with two new Member States – Malta and Cyprus – the Eurozone will boast over half of EU Member States. This is a significant psychological barrier, when dissatisfaction among the workers and the people as a whole in the Eurozone is on the increase and when the future Constitutional Treaty is being discussed.
In our view, it is entirely up to each Member State to make the sovereign decision on whether or not it wants to join the Eurozone, and this is why we abstained from the vote."@en1
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