Eurogroup meeting: extracts from the common press conference by Jean-Claude Juncker, President of the Eurogroup, Olli Rehn, and Klaus Regling, Chief Executive of the European Financial Stability Facility (EFSF)
Type: Summary of press conference
End production: 06/12/2010 First transmission: 06/12/2010
The Ministers for Finance of the Eurogroup met on 6 December 2010 in Brussels.
During the common press conference, Jean-Claude Juncker, President of the Eurogroup and Luxembourgish Prime Minister, called for the creation of pan-European bonds to boost confidence in the euro, while Germany rejected the idea. The increase of the Eurozone rescue fund nd the detailed measures of budget consolidation adopted by the Spanish and Portuguese governments were also discussed.
As Olli Rehn, Member of the EC in charge of Economic and Monetary Affairs, said about the proposal made by the Euro bonds.
Only the original language version is authentic and it prevails in the event of its differing from the translated versions.
||Arrival of Olli Rehn, Member of the EC in charge of Economic and Monetary Affairs, and Jean-Claude Juncker, President of the Eurogroup and Luxembourgish Prime Minister
||SOUNDBITE (in FRENCH) by Jean-Claude Juncker, saying that so they listen to what the Spanish and Portuguese Ministers had to say. They explained in details the measures adopted by the Spanish and Portuguese government or the measures they are going to adopt and implement. They were very impressed by their budget consolidation programs. They also noted that Portugal was making considerable progress towards budget consolidation.
||SOUNDBITE (in ENGLISH) by Jean-Claude Juncker: we didn't discuss that. I wrote this article with my colleague Mister Tremonti (Italian Minister for Economy and Finance) in order to make clear that this is not so stupid as it sounds, because you have to enter into the details of the architecture of such a Euro bond emission.
||SOUNDBITE (in ENGLISH) by Olli Rehn: I want to say on the proposal which has been made by as regards the Euro bonds that I find this idea intellectually attractive. The Commission is, as usual ready to discuss with the Members States on ideas to contribute to reinforce our economic governance, our tool bo,x and to study their legal and technical viability as well as their political visibility.
||Cutaways of the audience (6 shots)