Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-10-20-Speech-3-526"
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"en.20101020.21.3-526"2
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"Adopting the euro was a gamble of fundamental importance for the EU. The main risk factor is associated not so much with matters of monetary technique, where the European Central Bank is doing an excellent job, but with economic cohesion and the link with the real economy. The problem really made itself felt during the crisis: the single currency makes less and less sense for a market that is still fragmentary and with fiscal policies that are not always sufficiently homogeneous. Considering these issues should not be, and must not be, a mere exercise or excuse for claiming legal sovereignty over matters that are currently the responsibility of individual nations. Instead, it is useful to apply consistency and a systematic approach to economic action in the face of increasingly complex situations, where currency challenges are not the same as in the past and require different instruments and objectives where the responsibilities shouldered by the technicians must be backed by ongoing and consistent monitoring as well as political direction based on a considered view of the future and an eye to resolving contingent problems."@en1
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