Eurogroup meeting: extracts from the joint press conference by Jean-Claude Juncker, President of the Eurogroup and Joaquín Almunia
The Ministers for Finance of the Eurozone discussed on 03/11/2008 in Brussels about the economic situation, in the light of the European Commission's autumn forecast, and developments on the financial markets.
Jean-Claude Juncker, President of the Eurogroup, told journalists that Member States were of the opinion that in the euro area a general revival package, a sort of classical or traditional programme to stimulate the short-term economy, was not needed. Rules have already been set out within the Eurogroup and it is simply a question of adopting targeted temporary and consistent measures designed to help them in the short-term. He also insisted about the implementation of the Growth and Stability Pact.
Joaquín Almunia, Member of the EC in charge of Economic and Monetary Affairs, said that looking at the forecast presented today, looking at the economic situation, looking at the need to accelerate as much as possible the decisions that can promote a recovery based on sound basis, the European coordination, and in particular this coordination in the euro area, was now essential.