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Extracts from the joint press conference by Neelie Kroes, Joaquín Almunia and Charlie McCreevy on impaired assets

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The Commission's Communication took account of the recommendations of the European Central Bank, and took into account the extensive discussions with Member States over the last two months on the appropriate way to deal with impaired assets. It addressed the rationale for asset relief as a measure to safeguard financial stability and underpin bank lending; the longer-term considerations of banking-sector viability and budgetary sustainability to be taken into account when considering asset relief measures; and the need for a common and co-ordinated EU approach to asset relief, notably to ensure a level playing field. Neelie Kroes, Member of the EC in charge of Competition, Joaquín Almunia, Member of the EC in charge of Economic and Monetary Affairs, and Charlie McCreevy, Member of the the EC in charge of Internal Market and Services, gave a joint press conference following the meeting.
SHOTLIST INFO PRESS MEMO

Type: EbS   Reference: 62148   Date: 25/02/2009   Duration: 00:04:23
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