Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-25-Speech-4-054"

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	"fr"^^xsd:language2
lpv:document identification number	"en.20100325.3.4-054"2
lpv:hasSubsequent	lp_eu:2010-03-25-Speech-4-0552
lpv:speaker	lp:Frank Engel2
lpv:spokenAs	substitute; IMCO (2009-07-16--2012-01-18)3 member; Delegation for relations with the Pan-African Parliament (2009-09-16--2014-06-30)3 unknown; Parti chrétien social luxembourgeois (2009-07-14--2014-06-30)3 member; Delegation to the ACP-EU Joint Parliamentary Assembly (2009-09-16--2014-06-30)3 member; EMPL (2009-07-16--2011-12-14)3 member_of_the_bureau; EPP (2009-09-16--2014-06-30)3 member; Special Committee on the Financial, Economic and Social Crisis (2009-10-08--2011-07-31)3 substitute; Delegation for relations with the Korean Peninsula (2009-09-16--2014-06-30)3
lpv:translated text	"Mr President, 2009 was, without doubt, the most difficult year for the euro since its introduction, but it was also the most useful. Without the euro, the European Union would have sunk into a war of competitive devaluations against the backdrop of the crisis. In 2009, monetary instability could have weakened the political solidity of the European Union. Thanks to the euro, we have been spared the pain of a continued imbalance of exchange rates and monetary policies. But for how much longer? Today we are hoping and praying for better governance of the European currency – more restrictive, more visible and more responsive governance. The fact is, the attempts by countries to take back control of the euro’s ground rules do not contribute whatsoever to the emergence of proper European economic and monetary governance. Only solidarity can curb the speculative activities of which Greece is a victim today and which may hit other countries in the euro area at any moment. Solidarity goes hand in hand with solidity in the emotionally charged context of sovereign debt markets. The political prevaricating of recent weeks has not only damaged Greece. It has seriously shaken confidence in the euro. Non-assistance to countries in danger is undermining the monetary stability of the whole of the euro area. Beyond emergencies, let us finally give the euro the instruments it needs. We need a coordinated European bond market to avoid bottlenecks with too many sovereign debts in too many countries coming to maturity at the same time. We need representation outside the euro area at all levels, in all bodies, including international financial institutions. Why is the President of the Eurogroup not in the G20? Let us also accept that the new members want to join the euro area as quickly as possible. We must welcome them with enthusiasm, not with petty-mindedness. Contriving to exclude euro area members amounts to abandoning the ambition of a strong Europe in the world. The expansion of the euro area must go hand in hand with the implementation of the instruments needed for genuine economic union: coordination of budget policies and harmonisation of economic and fiscal policies. This is the price of the euro’s continued success."@en1
lpv:videoURI	<go to Events_and_structure europarl>2

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