Strasbourg, 17/05/2000 (Agence Europe) - Greece "will be" the twelfth Euro partner: it must not "angle for" an accession to which the improvement of its economy (true convergence, stability, openness to foreign capital, opening-up of the stock market) allows. With these very clear remarks, the Economic Committee rapporteur, Robert Goebbels (Socialist, Luxembourg) invited the plenary session to approve the entry of the Drachma into the Euro. Obviously, the situation is not perfect and efforts must be made, notably to accelerate the required transposition of European legislation at a national level, but the answer given to Greece is a political answer and it is positive. If there is a risk, it is greater for Greece, who will be forced to enter into a culture of sustainable stability. This policy has already created a "virtuous circle", notes Mr. Goebbels, with the establishment of sustainable non-inflationist growth.
Speaking personally, Mr. Goebbels expressed the hope that the democratic consultations taking place in Denmark and Sweden on entry into the Euro-zone will be positive and that, in the not too distant future, the United Kingdom will chose the same path.
Some will vote against my recommendation, or because they are against the Euro, said the rapporteur, or because they are trying to "capitalise" on citizens fears towards the relationship between the Euro and Dollar. Though the Euro, he insists, is stable: the DM has over the years known much larger fluctuations against the Dollar. A shadow exists, it is true, that of unemployment; but it is not the financial markets that rejoice when employment rises, as they fear inflation.
The vote in plenary will take place this Thursday.
For Mr. Solbes, Greece's entry does not pose any problems for Euro zone
Personally, Commissioner Solbes wanted to dissipate the MEPs fears towards the "Greek model." As for the debt, Greece's situation "is comparable to that of Belgium and Italy in 1998." As for inflation, it is true that Greece has reached the required level for "only a few months", but the latest figures from Eurostat show that the situation is improving and that over the last twelve months, Greece "is doing better than Spain and Ireland" and equivalently to "Italy, Luxembourg and the Netherlands." Furthermore, Greece "will pursue its liberalisation policy, its structural reforms and its fight against deficits." Therefore, the participation of the Drachma in the Euro will not be an obstacle, but the opposite" felt the Commissioner and he hoped "that other Member States will follow the path chosen by Greece."