non-euro area

The way of setting the inflation rate based on non-euro area countries is actually not right and should be revised.

Non-euro area countries were also affected by the crisis.

Such analyses usually come from non-euro area countries.

Second, I hope that the Competitiveness Pact will prove credible and will also attract non-euro area members.

Secondly, Denmark had an interest in developing an expedient framework for exchange rate cooperation between the euro area and the non-euro area member states.

Mr Schmidt proposed an amendment concerning voluntary participation of non-euro area Member States in the sanctions regime.

The Commission can accept and endorse this amendment, which aims at involving the non-euro area Member States in the sanctions regime on a voluntary basis.

These make clear "participation in ERM II is voluntary for the non-euro area Member States".

The positive assessment on Estonia is also a strong positive signal for the markets as well as for the non-euro area Member States at this current juncture.

It is to be welcomed that despite the initial fears of non-euro area Member States, the pact has been made open to all Member States wishing to join.

I believe that, under special economic circumstances, the scoreboard of indicators and alert thresholds, should be symmetric and differentiated for euro area and non-euro area Member States.

Mr President, as you know, my group is composed mainly of non-euro area members, but we certainly do not wish to see the euro fail, as I have already said here several times.

The 18 euro area central banks (including the ECB) and six central banks from non-euro area countries: Bulgaria, Denmark, Latvia, Lithuania, Poland and Romania.

I do not need to remind you that, just a few days ago, I received the Prime Minister of Iceland, a country very close to us - and a non-euro area member - which was indeed facing this crisis.

The EMI finalised a draft agreement between the ECB and future non-euro area NCBs setting out the operating procedure to be submitted to the ECB for endorsement.

Proposal for a Regulation with changes to the setting up of the European Banking Authority, drawn up "to ensure a balance in its decision making structures between the euro area and non-euro area Member States"

This begs the question as to why only euro area Member States deserve special economic rescue measures, when non-euro area Member States also face huge economic and financial difficulties and they may also require assistance in the future.

If I may, I should like to emphasise one more matter: for the time being we are focusing on the euro area, but we also have a 'non-euro area' in the European Union, and we should ensure that this does not experience problems either.

Mr President, this is an important oral amendment: 'whereas, as far as possible, all 27 Member States should follow to the maximum all the economic governance proposals, recognising that, for non-euro area Member States, this will in part be a voluntary process'.

Non-Euro area NCBs are required to pay up only a very small percentage of their subscribed capital, which accounts for the different magnitudes of Euro area and Non-Euro area total paid-up capital.

The European Union must therefore show greater solidarity, by also providing assistance to non-euro area members, so that they become members of the club and recover all decision-making rights in the European Union and we would thus eliminate a temporary discrepancy in the EU accession agreement.

The treaty change Decision relates to a provision (Article 136 TFEU) that does not apply to non-euro area Member States, and so cannot impose any obligations on the UK or other non-euro area Member States.

So this is indeed a priority and we are doing it with all our instruments - the European Social Fund, the Globalisation Adjustment Fund, the Cohesion Fund and the doubling of the facility for balance of payment support to new Member States and non-euro area countries.

The conditions for the participation of non-euro area European Union central banks and credit institutions in the TARGET system were also decided, taking into account the risk to the conduct of monetary policy that giving unlimited access to intraday credit to credit institutions outside the euro area could bring.

Last night, it said: "Although non-euro area sovereigns within the EU - like the UK - can be expected to be somewhat cushioned from both the euro area sovereign debt crisis and its rating consequences, Moody's says that no EU sovereign rating can be considered immune to this crisis."