Extracts from the press conference by José Manuel Barroso prior the European Council of 23-24/06/2011

Type: Summary of press conference   Reference: I-070277   Duration: 00:03:18  Lieu:
End production: 21/06/2011   First transmission: 21/06/2011
José Manuel Barroso, President of the EC, held a press conference prior the European Council of 23-24/06/2011 in Brussels. He outlined the European Commission's proposal for a financial sector taxation to respond to the economic crisis in Europe. José Manuel Barroso told journalists that he would also propose to the Heads of State or Government of the 27 EU Member States to allow Greece to have access to a significant amount of EU money under cohesion policy.

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00:00:00 Title 00:00:05
00:00:05 General view of the press conference 00:00:06
00:00:11 Soundbite by José Manuel Barroso, President of the EC, (in ENGLISH) on financial taxation: saying that he announced in his letter to the European Council that the Commission will present a formal legislative proposal to put in place a financial tax within the European Union; the proposal will have three aims: firstly, to avoid fragmentation in the internal market for financial services, because there is an increasing number of uncoordinated national tax measures being put in place; secondly, to create appropriate disincentives for overly risky or purely speculative transactions; thirdly, to ensure that financial institutions make a fair and substantive contribution to the burden sharing of the costs of the recent crisis as well as to address concerns about excessive profits; in fact the very high bonuses that are still being paid to bankers suggest that there are excessive profits in the banking sector. 00:01:03
00:01:15 Cutaway of cameraman 00:00:03
00:01:18 Soundbite by José Manuel Barroso (in ENGLISH) on Greece: saying that it is crucial that the new Greek Government receives the confidence of the Parliament so that it can build the consensus the country needs for far-reaching economic reform; the following week will be the moment of truth where Greece needs to demonstrate that it is genuinely committed to the ambitious package of further fiscal measures and privatisations put forward by Prime Minister Papandreou's Government and agreed with the EU and the IMF; saying that his message is clear: if Athens acts, Europe will deliver; there is a plan; the European Commission urges everybody to now act upon it; it is better to act than just to talk; there is a plan, let's put it in practice; this is a time that calls for a more strategic use also of European structural funds; and it is important to show to our Greek friends and partners that, yes, the way out is difficult but there is hope and there are solutions at the end of this path. 00:01:12
00:02:30 Cutaway of press 00:00:04
00:02:35 Soundbite by José Manuel Barroso (in ENGLISH) on Ireland: saying that he is not aware of any speculation about a decision by the upcoming European Council on Irish loan rate cut; the position of the European Commission is that there should be a reduction of the interest rates paid by Ireland, also for the credibility of the programme; Ireland is taking good measures and the programme is on track; it is important also to show the EU's commitment to the efforts that the Irish authorities and Irish people are making. 00:00:42
00:03:18 Cutaways (2 shots) 00:00:11
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