Extracts from the press conference by Olli Rehn on the interim economic forecast (Spain)

Type: Summary of press conference   Reference: I-072446   Duration: 10:02:14  Lieu:
End production: 23/02/2012   First transmission: 23/02/2012
On 23 February 2012, Olli Rehn, Vice-President of the EC in charge of Economic and Monetary Affairs and the Euro, presented the interim forecast which shows euro area in mild recession with signs of stabilisation. During this press conference, the Member of the EC made declarations on the current situation in Spain.

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
10:00:00 Title 00:00:05
10:00:05 General view of the conference room 00:00:05
10:00:10 Soundbite by Olli Rehn, Vice-President of the EC in charge of Economic and Monetary Affairs and the Euro (in ENGLISH): In the end of last year, the 30th of December 2011, we were informed about fiscal slippages and of the fiscal measures adopted by the new Spanish government. This is included in the interim forecast but the interim forecast does not reflect additional measures that would still be included in the forthcoming budget. The full information of budgetary figures will be available in much notification which will be then validated and published by Eurostat in April. On that basis we work with the Spanish authorities, decisions will be taken once we have a full picture. 00:00:59
10:01:09 General view of the conference room 00:00:05
10:01:15 Cutaway of the audience 00:00:04
10:01:19 Soundbite by Olli Rehn (in ENGLISH): We have a full picture of the fiscal slippage last year and the reason for slippage, including whether they were permanent or whether they were from the central government and what extent from the regional governments. On the basis of further information concerning the budget for this year, and consolidation measures included in budget for 2012, we can only then come back. This is once we have full information on this matter, in line with the Council conclusions. 00:00:54
10:02:14 General view of the conference room 00:00:05
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