I am sorry to say that, in my view, the changeover to the single currency has been forced through.

Incidentally, there was no suspense since the governments concerned had carefully avoided any consultation of the people regarding the final changeover to the single currency.

The economic actors concerned must realise that it is wrong to give priority to immediate small profits over consumer confidence and the smooth changeover to the single currency.

It is evident today - and I must add that this is to be welcomed - that most sectors of the economy have begun to prepare for the changeover to the single currency.

Mr President, Commissioner, in the course of this pivotal year, prior to the changeover to the single currency, the Commission has deployed every effort to ensure the birth of the euro in a favourable environment.

On the other hand, large businesses based in Europe will reap the benefits, directly or indirectly, from the changeover to the single currency and thus will be able to offset the costs of reorganisation and investment that are involved.

Mr President, ladies and gentlemen, in giving their definitive consent to the changeover to the single currency, maybe there are some of you who will believe that they are voting in favour of the European Union?

Indeed, if you approve the changeover to the single currency under the present conditions, you will have voted for a law which undoubtedly gives complete authority to a body of international experts and bankers, and which will seriously reverse democracy in Europe.

It is vital that these successes are now accompanied by further measures which strengthen democratic control, protect the rights of consumers and fully inform ordinary people about the changeover to the single currency so that the prophets of doom will not be proved right.