Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-24-Speech-3-069"

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"en.20100324.12.3-069"2
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"Madam President, the troubles of Greece and the eurozone should not be seen as an exception. A single currency for such a large, economically heterogeneous region of the world is self-evidently problematic. The value of a currency should reflect the condition of a state’s economy. When the economy thrives, the value of the state’s currency will tend to rise. When an economy falls into recession, the value of the currency will tend to fall. The state of the economy of Greece requires a depreciation of its currency. If it had experienced that depreciation, it would have benefited from a tourist boom. The euro is not a solution to the economic problems of the world. It is the problem. The difficulty for Greece is that, if it pulled out of the euro now, it would find that the fall in the value of its reverted currency would multiply its foreign debt. It is truly imprisoned in the eurozone. This should be a warning to countries outside the eurozone. Join it at your peril. Once inside, you will be locked in for ever."@en1
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3http://purl.org/linkedpolitics/rdf/spokenAs.ttl.gz

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