Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-06-16-Speech-3-974"
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"en.20100616.24.3-974"2
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"Considering the economic indicators and the sustainability of the public accounts of Estonia, I am favourable to its adoption of the euro on 1 January 2011. In the current context of global crisis and the constant pressure exerted on the euro by financial markets, Estonia’s entry into the euro area is a positive signal that reinforces the importance and viability of the European economic and monetary integration process. I stress the example of stability set by Estonia, which has understood how to reconcile progress with discipline and sustainability in public accounts. Despite the negative economic situation, in 2009, Estonia had a deficit of 1.7% of GDP, while the overall ratio between public debt and GDP was 7.2% of GDP, far below the reference value of 60% in the European Union. In this context, I restate the urgent need to create effective mechanisms to monitor constantly and in real time the economic and budgetary performance of all Member States, so as to ensure compliance with the convergence criteria."@en1
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