Financial markets crisis: extracts from the EC midday press briefing
Première transmission: 24/10/2008
Brussels, Belgium - EC/Berlaymont
Fin de production: 24/10/2008
Amadeu Altafaj Tardio, Spokesperson for SPP Coordination & Planning Unit of DG "Communication" of the EC, announced the different meetings the EC set up to prepare measures to cope with the global financial crisis. He also answered questions about sovereign wealth funds.
Only the original language version is authentic and it prevails in the event of its differing from the translated versions.
||Amadeu Altafaj Tardio, Spokesperson for SPP Coordination & Planning Unit of DG "Communication" of the EC, saying (in FRENCH) that it will be a normal week, except for a meeting that José Manuel Barroso, President of the EC, convoked in order to prepare the sequel of meetings set up to solve the global financial crisis and the impact on real economy.
||Amadeu Altafaj Tardio saying (in FRENCH) that the European Commission meeting will aim at preparing a series of measures and analysing the tools and skills of the EU, which can be used to face the current financial and economic crisis as a consequence.
||Amadeu Altafaj Tardio saying (in FRENCH) that it is a political meeting, which wants to be operational and useful for the preparation of the 4 November Ecofin, the informal summit of the Heads of States and governments which was convoked by the presidency on the 7 November 2009, and the international Summit convoked by the president of the USA, on the 15 November 2009 in Washington.
||Amadeu Altafaj Tardio saying (in ENGLISH) that, concerning sovereign wealth funds which are owned by third countries, the European Commission is very supportive of the agreement on the code of conduct that took place in the frame of the IMF, to ensure more transparency; this is in line with the European Commission communication on this issue endorsed in March by the European Council; the EC was also stressing that there is a general need for a coordinated approach in order to maintain the flow of the long term investment from sovereign wealth fund, which is much needed, while safeguarding European and national interest; this is the balance that we have to strike, we already said that in March, and it has been endorsed by the European Council.
||Cutaway (3 shots)