Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-06-17-Speech-2-071"
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"en.20080617.5.2-071"2
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"Mr President, Slovakia has indeed achieved amazing things within a few short years. Who could have imagined that Slovakia would be one of the first of the new Member States to be able to join the euro area? However, the hard work is not over; in fact, it has only just begun. In their assessment and analysis, the Commission and the European Central Bank made it clear that the question of whether inflation can be kept at the desired level over the long term remains open. Indeed, Slovakia is aware of this problem. Otherwise this unparalleled step of revaluing the country’s currency, the koruna, by more than 17% to match the euro makes no sense. I can only appeal to Slovakia not to give us cause to experience a second Slovenia where, almost as soon as the country joined the euro area, inflation became rampant.
The step you have taken of revaluing the koruna shows that you are taking dealing with inflation seriously. It is true that imported inflation, especially in the case of energy products, can be kept somewhat in check by this means. However, that does not mean that measures in other areas cease to be very important; they always will be. As Commissioner Špidla mentioned, restrictive fiscal policies, wage increases that continue to focus on increasing productivity and not on the wishes of employees, and mobilisation of the employment market are all part of it. We know that circumstances vary greatly between Slovakia’s diverse regions. There is above average unemployment in some regions while in others, there are too few skilled workers.
Mr Radwan is absolutely right. Joining the euro area is not just an economic step, but also a political one. Back then, it was designed as entry to a phase that would be completed by a much more extensive integration. I hope that Slovakia, through moderate, correct, structure-oriented policies, will make its contribution to being able to chalk this entry up as a success at the end of the day."@en1
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