Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-01-13-Speech-2-044"
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"en.20090113.5.2-044"2
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"The tenth anniversary of the vote on the proposal, presented to Parliament, on behalf of the Council of Ministers, by Gordon Brown (then president of the Council), to lock exchange rates at that day’s level and to create the euro, is an opportunity to celebrate ten years of success, stability and strength of what is now one of the two leading currencies in the world.
The current economic crisis would have been compounded by turmoil on currency markets had we still had the peseta, lira, drachma and so on as separate currencies fluctuating wildly against each other. The euro has been a rock of stability for its members, as illustrated by the contrasting fortunes of Iceland and Ireland.
The anniversary is also an opportunity to debate whether Britain’s long-term economic future lies with euro membership. Of course, Britain can manage in the short run outside the euro, but over time, we stand to lose out: our businesses are handicapped in the European market by conversion costs and hedging costs that their competitors in that market do not face; and inward investors into the European market will prefer to be in the major currency area rather than the smaller one."@en1
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