Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-06-16-Speech-3-252"
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"en.20100616.24.3-252"2
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"Although the path already seems to have been decided, the merits and timing of Estonia joining the single European currency prevent me from voting in favour of the report under consideration by this House.
Europe’s economy is in crisis and experiencing turbulence, which should make us reflect on whether it is advisable, at least in the short term, for new members to enter the euro area. My opinion, which, with regard to Estonia, is also based on social and cultural considerations, is supported by certain macro-economic data. Estonia was among the first countries to go into recession. In 2009, its GDP fell by over 14%, while industrial production fell by 33.7%, the largest contraction in the European Union. Nevertheless, this negative trend has not come to a stop.
Lastly, it is absurd that, given these data, the report put to the vote asks the Commission to simulate the effect of the euro area rescue package on the Estonian budget only when the country joins the euro area and thus becomes a member of the group guaranteeing the rescue funds. This information should, on the contrary, be made available as soon as possible, so that the Council can make an informed decision and anticipate future scenarios."@en1
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