Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-11-17-Speech-1-068"
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"en.20081117.21.1-068"2
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"Mr President, first of all I would like to congratulate Mrs Berès and Mr Langen for the work they have put into this very important report. It is an excellent report and one that should be taken notice of.
When this topic was first reported at committee level, we were experiencing a very different economic climate. The subprime crisis in the United States of America had emerged, but I do not think anyone foresaw the repercussions and the extent of the effect it was going to have on financial markets right across the world.
As the financial situation has worsened, the tone of our debates here in the Committee on Economic and Monetary Affairs has changed. The current crisis is a global one, and to get through it we need a coordinated global response, so I very much welcome the initiative that was taken at the weekend and the outcome of that. There is a lot of more work that needs to be done, but I think that is a very good start.
For Ireland, the stability brought about by the euro currency, notably as regards interest rates and foreign-exchange rates, is a key factor in enabling us to emerge from the turmoil, not unscathed, but certainly still standing.
If there is still anyone in Ireland or elsewhere in the Euro Zone or elsewhere in Europe that doubts the benefit of euro membership, just look at the north-west of Europe and take note of what is happening in Iceland.
If people in Ireland had listened to those who opposed not just the Lisbon Treaty but also the Maastricht and Nice Treaties, where would Ireland be now? We would be outside. We would not be in the Euro Zone and we would be very badly affected economically because we would not have the stability which the euro has brought to the country.
I do not expect an answer from those parties like Sinn Féin who have consistently opposed Europe and the steps we have taken, but I really believe that it is time that they stood up and said what exactly they think and where they stand on the whole issue of Europe and our economic future."@en1
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