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EUROPEAN REVIEW

ISSUE 7 - Page 12

Two views on where Europe goes from here

Commissioner de Silguy

President Prodi

One hundred and forty-one days after the launch of the economic and monetary union, one thing is already clear: the euro is both a stabilising factor and a force for change. The euro is a solid currency underpinned by lasting sound public finances, thanks to the strict application of the stability and growth pact. It is managed by an independent central bank whose primary aim is price stability. It is therefore a credible currency, which inspires confidence among financial operators.

Europe is grappling with the threat of the disenchantment of European citizens following the initial enthusiasm for the euro. We need tangible successes on the employment front to reassure the people of Europe that the euro and Europe are synonymous with prosperity.

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