Eurogroup meeting: arrivals
End production: 03/12/2007 First transmission: 03/12/2007
Eurogroup Ministers met to hear the latest views of the International Monetary Fund on the economic outlook and policies of the Euro area. These views were outlined by Michael Deppler, IMF Director for Europe. They were then discussed within the Eurogroup. Ministers also assessed the economic situation and outlook since the Commission's autumn forecast of 9 November. Ongoing financial market turbulences as well as developments in oil prices, inflation and exchange rates were expected to be the main aspects of the discussion. In this context, Ministers reviewed compliance with their commitments agreed at the 2005 informal Ecofin Meeting, in Manchester, that distortionary fiscal and other policy interventions that prevent the necessary adjustments to oil prices should be avoided. Ministers were also debriefed on the recent visit to China of Jean-Claude Juncker, President of the Eurogroup, Jean-Claude Trichet, President of the European Central Bank, and Joaquín Almunia, Member of the EC in charge of Economic and Monetary Affairs. At his arrival at the meeting, Jean-Claude Juncker said that Ministers cannot ignore the rising risk posed by inflation, but he added that the economy is robust, even if it is slowing down a bit.
Only the original language version is authentic and it prevails in the event of its differing from the translated versions.
||Exterior view of the Council building
||Jean-Claude Juncker, President of the Eurogroup, (in ENGLISH) saying that they can not ignore the increasing inflation risks we are facing; and they also have in mind that although the economy is robust, it is slowing down a bit; the EU has to face these two risks;
about the USA mortage crisis; saying that he was told two months before that the worse was behind us but he thinks it is not; and it is difficult to have an estimation of what is happening and what will happen
||Arrival of Jean-Claude Trichet, President of the European Central Bank
||Arrival of Wouter Bos, Dutch Minister for Finance
||Arrival of Michalis Sarris, Cypriot Minister for Finance
||Arrival of Georgios Alogoskoufis, Greek Minister for Economy and Finance
||Arrival of Pedro Solbes Mira, Spanish Minister for Economy and Finance (2 shots)
||Arrival of Tommaso Padoa-Schioppa, Italian Minister for Economy and Finance