Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-07-12-Speech-4-175"
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"en.20070712.23.4-175"2
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"The report provides a clear picture of how EMU goes hand in hand with the creation of an EU state. The report seeks closer coordination of the economic policies of the Member States. The euro area’s external representation is viewed as needing to be strengthened, and internal coordination in the external scene as needing to be improved.
At the same time, it is noted that, for example, competitiveness is developing in different directions within the euro area and that the euro’s increase in value against, for example, the US dollar has had different effects in different Member States depending on the latter’s economic structures and the elasticity of their manufacturing industries. The report also points out that the ECB’s monetary policy can never be completely in tune with the situation in any particular Member State.
It was precisely these factors that were put forward as arguments by the ‘no’ side in the referendum on EMU in Sweden in 2003 and that met with sympathy among a large majority of Swedish voters.
I can only state that the ‘no’ side in the referendum argued quite correctly in pointing out that EMU was a large step along the road towards a United States of Europe."@en1
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