Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-05-07-Speech-3-036"

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"en.20080507.11.3-036"2
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"Ten years is long enough to be able to assess the benefits – or lack thereof – of the Economic and Monetary Union. It is now possible to see its advantages as well as its disadvantages and failures. I would like to draw your attention to the Maastricht criteria, the theoretical framework of which was developed before that of the Economic and Monetary Union. Today these criteria are really out of date. The factor of stability and growth has been revised, as none of the countries has succeeded in its implementation. In the course of the period of implementation of these criteria none of the countries in the euro area has actually implemented a single Maastricht criterion. I would also like to mention the new Member States, to which stringent requirements are being applied in the finance area. On the subject of inflation, the rates set were purely theoretical and do not conform to today’s realities. The way of setting the inflation rate based on non-euro area countries is actually not right and should be revised."@en1

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