Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-07-11-Speech-3-286"
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"en.20070711.27.3-286"2
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"Madam President, Mr Juncker, Mr Trichet, Mr Almunia, I believe that this is a good week for the euro. Firstly, because this is the first time that this macro-economic dialogue on the Eurozone has been held here, in the European Parliament. I hope that this is the start of a good routine; the euro has visibility in Parliament in this debate, and I welcome that.
And then, this is also the week that a newly elected President of the Republic felt that he himself ought to justify within Eurogroup what he was going to propose to his country. It seems to me that, a few years ago, that would not have happened in this country in which it was felt that budgetary strategy came under national sovereignty. The collective debate on what the management of the euro consists of has moved on, and I welcome that. You have requested the right to judge the effectiveness of the EUR 13 billion in tax gifts that have been proposed, and I can only back your proposal.
However, as far as the future is concerned, I should like to invite you to go even further. Firstly, because I believe that making use of the preventive arm of the Stability and Growth Pact does not make it possible to implement that which we need, that is to say, ex-ante coordination in order to organise future strategic investment in a coordinated way and to anticipate, together, the effects of the structural reforms, because what happens in a country in terms of structural reforms has an impact on all the other countries.
And then, I should like to invite you to open the debate on the issue of the exchange rate. This is an issue that Article 111 of the Treaty permits you to address, including at Council level. It must also be considered as an issue of common interest, as Article 99 of the Treaty calls on you to consider it."@en1
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