Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-01-13-Speech-2-047"
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"en.20090113.5.2-047"2
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"Mr President, ladies and gentlemen, European Economic and Monetary Union began on 1 January 1999, and 11 EU Member States adopted the single currency at the same time. The euro was 10 years old on 1 January 2009. At the same time, Slovakia became the 16th country to use the euro.
Just as Mr Juncker stated to Parliament in his speech, the euro is very definitely an ‘anchor of stability’. This is something the countries that have been left out of the euro area have been made painfully aware of.
Although the 10th anniversary of the euro is overshadowed by worries of a possible deepening of the recession, I trust in the euro area’s ability to emerge from the crisis. This will nevertheless require considerable effort on the part of the Union. According to the latest estimates, the effect of the agreed stimulus package will be considerably less than the 1.5% of gross domestic product planned for the area. According to current estimates, it will be around 0.6%. An additional stimulus is needed.
The euro has been an unquestionable success, but would not have been but for the continuous efforts made. Now we need to strengthen Europe’s role in the supervision of the financial markets. We have to keep to the basic principles and criteria of Economic and Monetary Union."@en1
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