Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-03-11-Speech-2-329"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20080311.33.2-329"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:translated text |
"As the honourable Member knows, the exchange markets, in the vast majority of countries, and in particular in more advanced industrialised economies, are governed by flexible exchange rates. It is the law of supply and demand that sets exchange rates at any given time.
What is desirable is for all the players, all those that are part of the global economy, and in particular, the exchange markets, to keep to the guidelines that we agreed in the G7, in the International Monetary Fund, in the multilateral consultations, that took place a year ago now, in order to try to deal with the global imbalances in the economy. One of the conclusions of those multilateral consultations had to do with the need to give the exchange markets the freedom to reflect the fundamentals of each economy, and this is the best way for exchange rates not to be collectively detrimental to the players, the participants in the international markets.
Thus far, for the euro area, if we look at the figures published by Eurostat for 2007, the first Eurostat figures for 2007, published on 15 February, over last year exports from countries in the euro area, which is thirteen countries, grew by 8%, while imports grew by 6%. However, at the same time it is true that the changes in interest rates concern us; and in particular we are concerned by the changes in recent weeks.
This was said as a result of the last meeting of the Eurogroup last week, by the Chairman of the Eurogroup, the Chairman of the European Central Bank and by me as Commissioner for Economic and Monetary Affairs.
We are taking note of the will of the US authorities, which are still repeating publicly that they want to maintain a strong currency. We are taking note of the announcements and declarations of intention from the authorities in countries such as China and other emerging Asian economies, which are saying that they are aware of the need to gradually introduce more flexibility in the management of exchange rates."@en1
|
Named graphs describing this resource:
The resource appears as object in 2 triples