Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-25-Speech-4-049"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2010-03-25"^^xsd:date2
dcterms:Is Part Of	lp_eu:ECB annual report for 2008 - Report on the 2009 Annual Statement on the Euro Area and Public Finances (debate)2
dcterms:Language	"lv"^^xsd:language2
lpv:document identification number	"en.20100325.3.4-049"2
lpv:hasSubsequent	lp_eu:2010-03-25-Speech-4-0502
lpv:speaker	lp:Roberts Zīle2
lpv:spokenAs	member; TRAN (2009-07-16--2012-01-18)3 substitute; Delegation to the EU-Chile Joint Parliamentary Committee (2009-09-16--2014-06-30)3 member_of_the_bureau; PECH (2009-07-16--2014-06-30)3 substitute; ITRE (2009-07-21--2012-01-18)3 member; Delegation for relations with the People's Republic of China (2009-09-16--2014-06-30)3 unknown; Tēvzemei un Brīvībai/LNNK (2009-07-14--2014-06-30)3 substitute; Delegation to the Euro-Latin American Parliamentary Assembly (2009-09-16--2014-06-30)3 member; Special Committee on the Financial, Economic and Social Crisis (2009-10-08--2011-07-31)3
lpv:translated text	"Thank you, Mr President and Commissioners, last December, in Strasbourg, Mr Almunia, who was then Commissioner for Economic and Monetary Affairs, said that barring any significant developments, next summer, Estonia would be invited to join the euro area, with effect from 2011. Well, there have been some significant developments, not only for Estonia, but also for the euro area. Estonia is practically the only EU Member State that currently satisfies the Maastricht criteria. What sort of signal will it give if Estonia is not accepted into the euro area, in accordance with the rules? To my mind, it would signal to the financial world that the malaise in the euro area is so deep that it is incapable of accepting a small but fiscally responsible country. In other words, a sign will be put on the euro area club door, saying: ‘The club is closed for major refurbishment’. What sort of signal would it be, however, for the new Member States, such as my country, Latvia, which is under an IMF programme and maintains a fixed rate of exchange against the euro, and which, in order to introduce the euro, devalues its economy with a double-digit fall in GDP and extraordinarily high unemployment? The signal would be why should we do our utmost to repay private debt with a high exchange rate for our national currency, when this debt has been issued as euro loans by EU banks against, for example, immovable property? Thank you."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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