Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-11-20-Speech-2-060-000"
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"en.20121120.3.2-060-000"2
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"Mr President, the Thyssen report appears to point towards a genuine economic and monetary union but it forgets one important economic lesson: a monetary union can only exist between countries that have sufficient commonality. This commonality, Mr President, is missing in the euro area. This means that there is limited labour mobility and labour costs per product unit differ enormously.
this week shows that the competitiveness of France forms a very considerable risk. Along with Greece and Spain, France may soon also become the sick man of Europe. The numerous proposals in the Thyssen report are wide of the mark. Ultimately the Bretton Woods system could no longer survive. Only when the linking with the gold standard was abandoned did new opportunities arise for the global economy.
Furthermore, the current euro area can also not continue as it is. Only after the area is taken in hand will a genuine economic and monetary union be possible. If we neglect this approach then we will still be beating our heads against a brick wall."@en1
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