Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-07-11-Speech-3-290"

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"Madam President, I feel as though I am taking part in a debate of deceptions: the deception of our guests, who are faced with an empty Chamber, and deception on the right, where Members are getting worked up about the ECB’s losing its independence, when the European Central Bank is and will remain independent. France changed its Constitution so that the ECB could be independent. For the statute of the ECB to be changed, it would take an agreement among 27 governments and 28 parliaments, including ours. That is a mission impossible! Furthermore, the ECB is doing some rather good work; the euro is the second currency of the international reserve and, since 2000, it has appreciated by some 25% against the dollar. It costs us less to buy raw materials, petrol and gas. Inflation is lower in the Eurozone than in the United States and the United Kingdom. If I have one criticism to make about the ECB, it is that it is too obsessed with combating inflation. Inflation is harmful, especially for the economically weak, but, as inflationary pressure is currently limited, the Bank could do more to support EU economic policy. The purchasing power of many Europeans has decreased, which is not stopping the ECB from advocating wage moderation. I hope that Mr Trichet will also recommend moderation to President Sarkozy, who is renouncing the commitments made by France in order to give tax gifts to the rich. The final deception is this: what is the point of a European Charter of Fundamental Rights if it is not applied throughout the Union? How can the European Court of Justice apply this Charter when it will not be applied in the United Kingdom? This final question is obviously addressed to the great European that is my fellow countryman, Mr Juncker."@en1

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