Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-03-12-Speech-3-024"
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"en.20080312.3.3-024"2
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"President Barroso has spoken about inflation. Inflation is a spectre that once again haunts the Member States. At 3.2%, it is currently well above the 2% target, and this is a worrying development, a development that is stimulated by pay increases, as in the Netherlands. Last year’s debate in preparation for the spring summit was dominated by the reforms to the welfare state. That was perfectly reasonable. The welfare states had become untenable. Several Member States have dealt advantageously with this and are now in a better position.
However, Mr President, the outlook is not good. Inflation is too high; the cost of raw materials is on the increase; and recently the central banks have had to avert a credit crisis in the financial markets with extensive loans. Consumer confidence now has to recover.
Last week Mr Trichet said that, in accordance with the monetary policy stance, the European Central Bank would continue in its aim of maintaining stability, and the European Central Bank must do independently what the new French boss of the International Monetary Fund also claims. It is, however, at the discretion of the Member States to support this policy by ensuring wage increases are controlled.
Can the President of the Council indicate which additional measures the Council will take in order to turn the tide? Can we expect measures to check the already over-accelerated wage increase? Thank you very much."@en1
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