Local view for "http://purl.org/linkedpolitics/eu/plenary/2014-01-16-Speech-4-328-000"
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"en.20140116.30.4-328-000"2
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"Mr President, the collapse of the Icelandic banking system was the occasion for some unpleasant Schadenfreude in this Chamber. The stubborn independence of that small and brave country has been a standing rebuke to some in this place, who argue that you cannot survive other than as part of a multinational union. But four or five years on, Iceland has bounced back impressively, and the paradox is that in this report it is accepted why that is. Precisely because Iceland was outside the euro, it was able to use its monetary policy in order to stimulate a recovery. There is now not a single Icelander who would swap places with the stricken Mediterranean eurozone states.
There is one other part of this report that I think deserves a little bit of attention. It is noted that, because Iceland is small and has what it calls limited defensive interests, it was easier to conclude a free trade agreement with bigger trade partners. The most recent FTA, concluded on 15 April 2013, was between Iceland and China and is expected to boost exports while eliminating tariffs on the import of manufactured goods. So much for the idea that you need to be part of a big bloc in order to sign FTAs. We are dragged into a common European tariff and are therefore unable to exploit what Iceland, with its population of 230 000 people, does, which is to maximise its prosperity by trading openly."@en1
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