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Economy and Finance Council: extracts from the joint press conference by Joaquín Almunia, Charlie McCreevy and Andrej Bajuk, Solvenian Minister for Finance and President in office of the Council

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Following the "Economy and Finance Council", Joaquín Almunia, Member of the EC in charge of Economic and Monetary Affairs, Charlie McCreevy, Member of the EC in charge of Internal Market and Services, and Andrej Bajuk, Slovenian Minister for Foreign Affairs and President in office of the Council, gave a joint press conference. Ministers approved the accession of Slovakia to the single currency by 2009 saying that the country has fulfilled all the criteria for joining the euro. They also closed the deficit procedure against Italy, Portugal, Slovakia and the Czech Republic, and Joaquín Almunia announced that the European Commission would soon ask ministers to also lift sanctions against Poland. This will leave only Hungary facing formal criticism for breaking the EU budget rules. Ministers talk also about the rise of food prices. Andrej Bajuk said that more should be done to increase the production, included for biofuels. He rejected the Italian idea of creating a special taxation for oil companies.
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Type: EbS   Reference: 57666   Date: 03/06/2008   Duration: 00:03:35
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