Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-05-07-Speech-3-037"
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"en.20080507.11.3-037"2
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"Madam President, the basic economic problems of the euro cannot be reconciled. In the long term, it is not possible to have one common interest rate for a multitude of differently performing national economies. It is not possible to have one common external exchange rate for a multitude of differently performing economies. It is possible in the short term and even the midterm, but eventually these irreconcilable economic contradictions will pull the European single currency apart. This does not even take into account the undemocratic and unaccountable decision-making processes of the European Central Bank. There is an economic crisis looming and, when one eventually comes that is big enough, it will destroy the European single currency."@en1
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