Download Giscard + ECB`s President + MEPs : ***uro Currency is

Giscard + ECB's President + MEPs : €uro Currency is strong and
will grow with EU Economic Governance
Written by ACM
Last Updated: Sunday, 08 May 2011
EuroFora (http://www.eurofora.net)
€uro Currency was strongly supported against unjust critics, by experienced former EU
Convention Chairman, former French Pesident, Academician Valery Giscard d' Estaing,
going even further than ECB's President Truchet and many MEPs, etc., while EU
President van Rompuy presented first measures to boost EU's Economic Governance,
during a series of Strategy Debates at EU Parliament in Strasbourg this week, among
on-going practical preparations to act on Ireland's a.o. urgent issues, which were
dismissed as notable but secondary, compared to the substance of Euro's big, Historic
potential.
----------------Currently, there is a Confusion of spirits\", and we \"need an intense effort of thinking\" in
order to face real facts , VGE denounced on this point from the start :
- \"When USA had big Problems in its Banks, including total bankruptcies, nobody spoke,
then, about a Problem for the Dollar $\", he observed.
Why, then ,claim that EuroZone would have a problem only because one out of 27 EU
Countries had a problem with its own Banks (Ireland)\" ?, VGE questioned.
- \"Why Euro would be threatened by imprudencies of Irish banks on mortgages ? Why
speak about a so-called \"threat against the Euro\", while the System of Euro Currency itself
is not put in question at all\" by that ?
Part of that confusion is provoked by Alarmist Headlines published by some Anglo-American
Media which are hostile against Europe, and this may be also used by some national
Politicians in order to justify impopular measures, in fact due to their own country's
errors, needing to reduce Past Debt, VGE criticized.
Questioned whether EuroCurrency system is put into question, or not, by such
developments, Giscard clearly replied : - \"No, No !\"....
In fact, what determines a Currency is its Emission System, and its position in the Markets.
But Euro has a good System of Emission, (the ECB is independent and and works well), while
even in the Markets there is nothing wrong going on, he explained.
But, what is strange is that a kind of disorder appeared during the last 10 years :
F.ex. in Ireland, Banks launched an imprudent Loans policy, funding construction businesses,
etc. and now they have a problem, partly also because of the Global Economic Crisis.
But the problems of insolvency of Irish Banks doesn't concern the System of Euro
Currency, he distinguished. Even when EuroZone created recently a special Fund, it is
destinated just in order to help give loans for Member States when Markets didn't give
them affordable prices.
Powered by Elxis 2008.0 (Olympus). Copyright (C) 2006-2008 Elxis.org. All rights reserved.
Giscard + ECB's President + MEPs : €uro Currency is strong and
will grow with EU Economic Governance
Written by ACM
Last Updated: Sunday, 08 May 2011
EuroFora (http://www.eurofora.net)
There was a change when the Irish Government anounced that it will cover Irish banks for
100%. And, meanwhile, global \"Speculators\" stepped in...
But, contrary to some wrong \"perceptions\", which provoke \"confusions\", in fact, this is
\"Not the Responsibility of the European Central Bank\", VGE stressed.
Similarly, in the case of Greece, it was the National State which had made excessive
emissions of public debt, as also Portugal has a Budgetary problem, Ireland a Banking
problem, etc. I.e. in all these cases it's not at all a problem of the Euro itself !\", he
underlined.
=> In consequence, those who cry that \"the Euro\" would be \"in Danger\", speak
\"Nonsense\", because \"the Euro is a Big Currency\", based on 3 Big Countries : France,
Germany and Italy, while it also has a Central Mechanism : the European Central Bank,
which is Independent, VGE stressed.
Valery Giscard d'Estaing's general aim, in a Speech he gave at EU Parliament in
Strasbourg, was, however, to stress the general need (from Economy up to Politics, etc) to
find a New Momentum in the EU by creating a really \"European Political public space\",
mainly thanks to a proposal to elect the next EU President in 2015 by a special session of EU
Parliament, together with some National MPs from all Countries- Member- Countries, united
together in a kind of \"Strasbourg Congress\", (See specific \"EuroFora\" NewsReport on that
point, already send earlier to Subscribers/Donors).
-------------Giscard's stance on Euro's capacities was strongly backed by EU
Parliament's plenary debates, earlier ,this same week in Strasbourg :
- Thanks to EuroZone's Decisions (since the October 2008 1st EuroZone Summit,
followed by the G20 Global Summit, both organized by the French EU Presidency, etc) the
EU succeded to avoid a World War I type Depression during the recent Global Crisis, said at
this occasion European Central Bank's President Didier Trichet.
- Moreover, EU has now 4% to 5% less Public Deficit than the USA or Japan, (5% or 6%
instead of 10% or 11&% respectively) being in a \"better position\", he added. \"Euro is an
historically Solid currency\", ECB's President concluded, responding also to appeals
launched by MEPs representing the ChristianDemocrat/EPP and Liberal Groups, Jean-Paul
Gauzes and Sylvie Goulard, followed by several other MEPs, as he observed himself, in order
to drastically ameliorate the false, partly manipulated impressions that some People
currently have of the Euro, which, in fact, is much better.
And as MEP Robert Goebbels reminded, inter alia, that \"with 500 Millions Citizens, ... EU
generates 30% of World's GDP, USA 25%, Japan and China 8% each\". \"EU is the 1st
destination of third countries' Investments\", and \"EU's businesses hold most
stocks of global investments\". EU's 27 Member Countries are \"the Bigger Exporter
Powered by Elxis 2008.0 (Olympus). Copyright (C) 2006-2008 Elxis.org. All rights reserved.
Giscard + ECB's President + MEPs : €uro Currency is strong and
will grow with EU Economic Governance
Written by ACM
Last Updated: Sunday, 08 May 2011
EuroFora (http://www.eurofora.net)
and Importer of goods in the World, and the Bigger Exporter of Services\". \"We (EU) have
the most Solvent Internal Market in the World\", while \"European enterprises export twice
more inside (EU's) internal market than towards external markets\", he added.
The only thing that ECB's President asked for, is a Stronger Economic Governance
reform for the Future, due in 2011, launching an appeal to EU Parliament to advance well
beyond the current proposals of EU Commission and Council.
- \"Those who have conceived Euro, didn't ever think that we'd have, for so long
time, only a simple coordination of economic policies\", because, \"what was foreseen, was a
Political Union, i.e. a Capacity to take Decisions, under (EU) Parliament's control\",
reminded MEP Goulard.
\"EuroFora\"s co-founder, indeed remembers perfectly well, that, when EU Parliament
initially adopted the decision to create a Euro Currency, Strasbourg Plenary's debates
were marked by stressing that the logic according to which facts will inevitably evolve will
certainly incite, at one moment or another, Europeans to ask for the creation also of a
common Economic Government policy, as this was the only way for the whole system to
work efficiently..
- \"We want to ensure that each Member State fully takes into account the Impact of
economic and fiscal decisions on its Partners and on the stability of the European Union as a
whole. At the same time, we want to strengthen the capacity of the Union level to react
when policies in a Member State present a Risk to the rest\" of the EU. That's why \" a
Commission proposal for Sanctions stands, unless a qualified Majority vote against\" inside
EU Council. EU \"Member States should feel that their policy decisions affect all their
partners and the Union as a whole. This is the big lesson from the crisis\", stressed EU
Council's President, Herman Van RompuyIn order to face \"the wider challenge of
improving Europe’s .. sustainable Growth rates\", EU Council will \"focus ...on ...our
economic Performance\", anounced Van Rompuy, speaking at EU Parliament's Plenary
in Strasbourg. -\"That will be the main objective of the ...meetings of February and March\"
2011.
- \"A Crisis is an opportunity for Change\", and we must find the right conclusions \"for the
Future\", stressed the Chairman of the largest Group of MEPs :
ChristianDemocrats/EPP, Joseph Daul. \"The Measures adopted by EU Council, some weeks
ago, and the orientations of the G-20 Seoul Summit, advance towards the good direction,
but don't go far enough, in order to became able to really work together, inside the EU
and between great Regional Blocks, to find replies to Financial Markets' instability,
Trade imbalances, or even more, in order to avoid a War of Currencies\". \"On all these
issues, our countries alone, are unable to find a long-term sustainable reply to the
expectations of 500 Millions of Europeans, who expect from their political representatives ...
Decisions able to create a better Future\", concluded Daul.
----------Powered by Elxis 2008.0 (Olympus). Copyright (C) 2006-2008 Elxis.org. All rights reserved.
Giscard + ECB's President + MEPs : €uro Currency is strong and
will grow with EU Economic Governance
Written by ACM
Last Updated: Sunday, 08 May 2011
EuroFora (http://www.eurofora.net)
VGE's speech was organized by Strasbourg University's PEAP, for \"European
pole on Public Administration\", which, according to its Chairman Weber, is currently part
and parcel of the projects presented in Paris by Strasbourg University's President Alain
Beretz in order to be selected and supported by the French Government as a \"pole of
Excellence\".
Obviously, Strasbourg, both Geopolitically, and by the personal Experiences accumulated
since decades, has an important potential to emerge as a pole of excellence on Public
Administration issues, from the Legal, Political Science, Historic/Sociological, Mediatic,
a.o. points of view.
But, in order to become really effective, it all depends on whether the people who shall have
any responsibility in this direction are conscious enough of the vital need to overcome some
short-sighted former provincial and/or Bureaucratic counter-productive obstacles, which
might undermine an otherwise unique, historic oppotunity for France and EU's
Franco-German core, as well as all Europe, including, in particular, many hundreds of
millions of EU Citizens and far beyond.
***
Powered by Elxis 2008.0 (Olympus). Copyright (C) 2006-2008 Elxis.org. All rights reserved.
Giscard + ECB's President + MEPs : €uro Currency is strong and
will grow with EU Economic Governance
Written by ACM
Last Updated: Sunday, 08 May 2011
EuroFora (http://www.eurofora.net)
Images:
Powered by Elxis 2008.0 (Olympus). Copyright (C) 2006-2008 Elxis.org. All rights reserved.