EP debate on the G20 Summit: extracts from the Council and the EC statements

Type: Report   Reference: I-059623   Duration: 10:50:31  Lieu:
End production: 18/11/2008   First transmission: 18/11/2008
On 18 November 2008, Members of the European Parliament debated the financial crisis, the outcome of the European Council and G-20 summit in Washington DC and the Commission's legislative and working plan for 2009. At the beginning of the debate, group leaders made statements on the financial crisis. Jean-Pierre Jouyet, French Minister of State with responsibility for European Affairs and President in office of the Council, and José Manuel Barroso, President of the European Commission, made statements too on behalf of the Council and Commission.

Only the original language version is authentic and it prevails in the event of its differing from the translated versions.
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TIME DESCRIPTION DURATION
10:45:36 Title 00:00:04
10:45:41 Exterior view of the European Parliament in Strasbourg 00:00:05
10:45:46 Jean-Pierre Jouyet, French Minister of State with responsibility for European Affairs and President in office of the Council, (in FRENCH) saying that the Union needs to continue to take a strong lead in order to get tangible results; in terms of European legislation, the measures tabled by the Commission on banking regulation and supervision and rating agencies have to be adopted; saying that Member States will not help growth if they don't work together and pull together and work alongside international partners; saying that as regards the budget, the G20 said that it is necessary to have sufficient scope and to use any way available; Member States agreed on mobility of movement within the stability and growth pact should be used to try and reverse the down turn in the economy; saying that the flexibility built on State aid can be used to the full so that the EU and its Members can support those sectors of the economy most severely threatened; investment banks need to be fully involved and encouraged to take measures to protect the most threatened industry currently the automobile industry across Europe; saying that the EU has taken its responsibilities effectively in a short period of time in the face of an unprecedented destabilisation of the world financial system and economy; saying that they want to see this as an opportunity to act more quickly and not to use as a way of slowing down but an opportunity to react and remain ambitious; (13 shots) 00:02:24
10:48:10 José Manuel Barroso, President of the EC, (in FRENCH) saying that this is the most urgent matter, the need to take urgent actions to stimulate the economy and to minimize the consequences of the crisis on the citizens and employment and purchasing power; on the need for open markets and rejection of any protectionism; saying that this is why a consensus is needed before the end of 2008; saying that the Union is going to face a major challenge to speak with one voice; it might sometimes be difficult but this is the only condition to the success; saying that he believes that the EU citizens would not understand that on the one hand the governments of the 27 and the EU institutions come together to define an answer to the financial crisis and now would not be united to define a answer to the economic crisis; saying that the EU needs a common strategy to boost the economy; saying that the EU needs a budgetary programme to boost demand; (in ENGLISH) "timely, targeted, temporary"; (in FRENCH) the three Ts; saying that they have to reduce all the administrative burden and red tape as regards the SMEs; saying that the social agenda must be part of the EU response to the economic crisis; saying that they must push the social agenda and promote the interest of consumers to open the employment market to young people; (10 shots) 00:02:21
10:50:31 Cutaways (4 shots) 00:00:05
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