Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-04-20-Speech-2-342"
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"en.20100420.12.2-342"2
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"Certainly not. The whole idea of a monetary union is of course – and everybody is perfectly aware when they become a member of the European monetary union – that you can no longer devalue your currency because you do not, in fact, have a currency any more. There is only the common currency.
There is no longer such a thing as a Greek currency. The Greeks have the euro as their currency. So an individual devaluation is completely contradictory to the whole idea of a European monetary union, and it is not by accident that Greece is a member of the European monetary union. It is a member because they did everything – really everything – to get in."@en1
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