English version
"Kryzys gospodarczy przeorał Europę w sposób bardzo negatywny. Na powierzchnię wyszły ukryte animozje, nasilają się tendencje ksenofobiczne, wzrastają nastroje nieprzychylności wobec imigrantów. Wszystko to jest nad wyraz niepokojące". Europa nie radzi sobie ze zjawiskiem imigracji. Stoimy między dwoma skrajnymi podejściami. (...).
Quarterly monetary policy dialogue, 07 grudnia 2009
The quarterly monetary policy dialogue between members of the ECON committee and Jean-Claude Trichet, President of the European Central Bank, took place.
Danuta Hübner commented in Committee that an exit strategy is a set of properly sequenced policy steps allowing to abandon unsustainable budgetary, monetary and financial sector policies. It implies the need of an efficient coordination mechanism.
She states that it is essential to closely consider the timing of the exit strategy and in particular the link between monetary and fiscal exits.
We know that the crisis has had divergent impacts on various member states; some will recover sooner than others. Different countries require different timing for fiscal exit. For each member state, however, it will be important that the monetary exit follows the fiscal exit in order to avoid debt traps which could emerge if repaying the public debt incurred during the crisis takes place at increased interest rates. Could the ECB carry on the dismantling of the special measures in such a way that this is not understood as a preparation for higher interest rates? Additionally, increased interest rates will lead to an appreciation of the euro, which further harms economic recovery.
She wondered what implications this could have for the ECB's timing of its exit strategy and whether it would depend on the timing of member states' fiscal exits at all.
She also raised the issue of whether the ECB has plans to facilitate the coordination of fiscal exit strategies between member states in order to let the monetary exit proceed as smoothly as possible. An institutional framework for this might facilitate matters.
For further information look at:
http://www.europarl.europa.eu/document/activities/cont/200912/20091209ATT66239/20091209ATT66239EN.pdf
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Komisja tymczasowa; zakończyła prace w dniu 31 lipca 2011r
Komisja tymczasowa; zakończyła prace w dniu 31 lipca 2011r
Professor Danuta Huebner presented the report on the
achievements of EU regional policy in the years 2004-2009.
