Eurogroup meeting: arrivals
End production: 11/02/2008 First transmission: 11/02/2008
The Finance Ministers of the Eurogroup met on 11 February 2008 in Brussels for their monthly discussion on the economic outlook of the Euro area. France and Italy were likely to face pressure from their partners, after the European Commission (in its recent recommendations for Council opinions on the updated stability programmes) urged the two countries in January to be more ambitious in taking measures to cut their budget deficit. José Manuel Barroso, President of the EC, attended the meeting. In a statement issued that day, he stressed that foundations of the Euro and of the Lisbon Strategy were sound but there was much work still to be done. The Ministers were also informed about the G7 Finance Ministers meeting in Tokyo.
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
||Arrival of Jean-Claude Trichet, President of the European Central Bank
||Arrival of Christine Lagarde, French Minister for Economy, Finance and Employment
||Arrival of Pedro Solbes Mira, Spanish Minister for Economy and Finance
||Cutaways (2 shots)
||Pedro Solbes Mira (in ENGLISH) on the French deficit; saying that his personal position concerning the Stability Pact has always been in favour of respecting the commitments;
on inflation in the Euro area; saying that he is worried because the figure is high; but there are some positive elements which have to be considered; part of the impact on the inflation has been the consequence of the increase of oil prices plus food prices in the second semester of 2007
||Arrival of Tommaso Padoa-Schioppa, Italian Minister for Economy and Finance
||Arrival of Peer Steinbrück, German Federal Minister for Finance
||Peer Steinbrück (in ENGLISH) on the French deficit;
saying that they should be all interested to support the Stability and Growth Pact; it is necessary to support the credibility of the Stability and Growth Pact; they agreed on a commitment in Berlin in April 2007, that in particular the great Member States should be compelled themselves to the commitment to reach the Mid-Term Objectives at the latest in 2010; that is the guidance for their discussion
||Arrival of Georgios Alogoskoufis, Greek Minister for Economy and Finance