Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-07-09-Speech-3-020"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2008-07-09"^^xsd:date2
dcterms:Is Part Of	lp_eu:Report on the ECB annual report for 2007 (debate)2
dcterms:Language	"lt"^^xsd:language2
lpv:document identification number	"en.20080709.2.3-020"2
lpv:hasSubsequent	lp_eu:2008-07-09-Speech-3-0212
lpv:speaker	lp:Margarita Starkevičiūtė2
lpv:spokenAs	unknown; Liberalų ir centro sąjunga (2004-07-20--2009-07-13)3 member; ALDE (2004-07-20--2009-07-13)3 member; Delegation for relations with Japan (2007-03-14--2009-07-13)3 substitute; Delegation for relations with Iran (2007-03-14--2009-07-13)3 substitute; CONT (2007-01-31--2009-07-13)3 substitute; BUDG (2007-01-31--2009-07-13)3 substitute; Delegation for relations with Australia and New Zealand (2007-04-25--2009-07-13)3 member; ECON (2007-01-31--2009-07-13)3
lpv:translated text	"May I point out that during our term of office the European Central Bank, thanks to its impressive work, has risen from being just one of the world’s many central banks into the world leader in central banking. Today it is facing the new challenge of establishing its increasingly important role in the globalised world. We would like the bank to enhance its role of forecasting and management of macroeconomics and financial stability as, since the majority of crises have their roots in third countries nowadays, it would be appropriate to say that the European Central Bank has failed to produce an accurate forecast of the extent of the crisis and its possible impact. What could be done to improve the situation? First of all I would mention increased coordination between economic and monetary policy. The Third World is now entering the stage of price liberalisation, which is very familiar to me, as a representative of Lithuania. It could last longer, and Europe would then be under a lot of pressure as regards prices. However, this pressure could be overcome by our monetary policy, which would be more taxing on our economy. Alternatively, we could offer to help developing countries to put their revenue policy in order and stabilise prices. This could be done through our increased participation in the International Monetary Fund and communication with the World Bank. This is one possible tool that could help curb inflation in developing countries as well as relieve the World Bank of the burden of adjusting monetary policy. There is one more aspect that worries me, and that is the European settlement system. Despite the European Central Bank’s substantial input into the implementation of SEPA and the development of the TARGET 2 security system, the problem is yet more complicated than that."@en1

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