Economic and Financial Affairs Council (ECOFIN): extracts

Type: News   Reference: 79973   Duration: 00:02:21  Lieu: Luxembourg (town), Luxembourg - Council
End production: 04/10/2011   First transmission: 04/10/2011
Jan Vincent-Rostowski, Polish Minister of Finance and Michel Barnier, Member of the EC in charge of Internal Market and Services held the Ecofin press conference. The Council approved the EU's position for the meeting of the G20 finance ministers and Central bank governors on 13th-16th of October and also adopted conclusions on climate finance ahead of the UN conference in Durbin, in South Africa which will take place in South Africa at the end of November. The Council approved the text recently voted by the European Parliament, on the so called six pack of legislative measures which formed the basis and foundation of the new stronger economic governance in the EU. They also agreed on a general approach on a draft regulation aimed at increasing transparency and reducing risk over the counter derivative markets.

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TIME DESCRIPTION DURATION
00:00:00 Title 00:00:05
00:00:05 General view of the press room 00:00:08
00:00:13 SOUNDBITE (English) Jan Vincent-Rostowski, Polish Minister of Finance: We approved the Eu's position for the meeting of the G20 finance ministers and Central bank governors on 13th-16th of October. We also adopted conclusions on climate finance ahead of the UN conference in Durbin, in South Africa which will take place in South Africa at the end of November. 00:00:27
00:00:40 Cutaway of the press room 00:00:06
00:00:46 SOUNDBITE (English) Jan Vincent-Rostowski: The Council and this is the point where we should be particularly pleased about, approved the text recently voted by the European Parliament, on the so called six pack of legislative measures which formed the basis and foundation of the new stronger economic governance in the EU. We also agreed a general approach on a draft regulation aimed at increasing transparency and reducing risk over the counter derivative markets. 00:00:36
00:01:22 Cutaway of the press room 00:00:06
00:01:28 SOUNDBITE (French) Michel Barnier, Member of the EC in charge of Internal Market and Services : Tendant la main au parlement européen qui a tout de suite suspendu le vote pour permettre d'engager le trilogue tout de suite sans aller à une deuxième lecture, nous avons une obligation de résultat, nous avons une urgence qui est celle produit par produit, acteur financier par acteur financier, secteur par secteur et celui-ci est considérable, d'introduire des règles de responsabilité, de transparence et au total une bonne régulation et une supervision intelligente. Je remercie donc la présidence polonaise et nous l'avons aidée, comme c'est notre rôle, à trouver un compromis dynamique qui nous permet maintenant d'engager le trilogue avec le Parlement européen. 00:00:47
00:02:15 Cutaway of the press room 00:00:06
00:02:21 END 00:00:00
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