In this task, you are given a sentence in the Swedish language and your task is to convert it into the English language. In translation, keep numbers as it is and make it sentence case (capitalize only the first word of each sentence and noun).

Det är hans första betänkande här i plenum.
It is his first report here in plenary.

Detta nämns också i rapporten.
That is also mentioned in the report.

Det skadar ju också trovärdigheten, när man påstår att valutaunionen skulle kunna utgöra en motvikt mot det globaliserade kapitalet.

It also, of course, damages credibility when it is stated that monetary union could constitute a counterbalance to globalised capital.