EU Economic and Financial Affairs

Type: Stockshots [long]   Reference: I-074975   Duration: 10:46:57  Lieu:
End production: 26/07/2012   First transmission: 26/07/2012
MEPs have pushed with the so called 6-Pack and now with the 2-Pack for a better economic and financial governance in the EU. 6-Pack: http://www.europarl.europa.eu/sides/getDoc.do?type=IM-PRESS&reference=20110429FCS18371&format=XML&language=EN 2-Pack: The adopted texts grant the European Commission more control over Eurozone countries' fiscal policy, but not the free rein it asked for. The increased powers would be subject to more democratic control and the budget cuts suggested by the Commission should not be made at the expense of killing off investments with growth potential, not least those in education and healthcare. The texts also propose a whole new chapter to directly stimulate growth and provide an immediate fix for the Eurozone crisis. The main elements of this chapter are: setting up a European Debt Redemption Fund. This would mutualise all the Eurozone countries' debts in excess of 60% (around 2.3 trillion euro) within a common redemption fund. The repayment of this debt would then be carried out over 25 years, thereby buying time for structural reforms to be carried out properly and lowering the average interest paid to refinance this debt, one month after the legislation enters into force, the Commission would be required to present a roadmap for introducing Eurobonds, and also one month after the legislation enters into force, the Commission would be required to present a proposal for a growth mechanism, equal to 1% of GDP (around 100 billion euro), for infrastructure investment.

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TIME DESCRIPTION DURATION
10:00:00 Title: EU Economic and Financial Affairs 00:00:05
10:00:05 1. EU Banking and Investment Sector 00:07:37
10:00:05 Title 00:00:05
10:00:10 General atmosphere in the City of London, United Kingdom (5 shots) 00:00:27
10:00:37 Santander bank branch in London: exterior views (2 shots) 00:00:07
10:00:44 Interior views: clients doing various operations in the bank and client withdrawing money from the cash machine (11 shots) 00:00:53
10:01:38 Exterior views of La Caixa headquarters in Madrid, Spain (3 shots) 00:00:15
10:01:53 Inside shots: people walking in and young man looking at the housing offers from La Caixa (5 shots) 00:00:22
10:02:16 Client asking information about pension schemes (7 shots) 00:00:40
10:02:56 Views of "La Caixa Business" department. Meetings between business advisers and enterpreneurs (9 shots) 00:00:40
10:03:37 Exterior views of a Sabadell-Atlantico bank branch in Madrid. Customer withdrawing money from the cash machine (5 shots) 00:00:21
10:03:58 Exterior views of Caja Madrid, Banca Civica, Banesto, BBVA and Bankinter bank agencies in Madrid (7 shots) 00:00:27
10:04:26 Exterior views of Bankia headquarters in Madrid and views of an agency with client withdrawing money from the cash machine (7 shots) 00:00:34
10:05:01 Exterior views of the Banco de España, Madrid (2 shots) 00:00:09
10:05:10 Exterior views of bank agencies in Rome, Italy: Unicredit, Intesa SanPaolo, Monte dei Paschi and Banca di Roma (8 shots) 00:00:36
10:05:47 Exterior views of an Alpha Bank branch in Athens, Greece, and client withdrawing money from the cash machine (7 shots) 00:00:28
10:06:16 Exterior views of Emporiki Bank and EuroBank agencies in Athens (5 shots) 00:00:19
10:06:35 General views of the Frankfurt am Main district, Germany (4 shots) 00:00:18
10:06:53 Allianz investment group in Frankfurt: exterior views, staff members coming to work and offices (8 shots) 00:00:39
10:07:33 Triton Houses building site in Frankfurt, a project which is co-financed by Allianz (2 shots) 00:00:09
10:07:42 2. Financial Markets and Products 00:06:42
10:07:42 Title 00:00:05
10:07:47 Exterior views of the Madrid stock exchange (2 shots) 00:00:09
10:07:56 General atmosphere inside: screens showing market values, people looking at screens, etc. (9 shots) 00:00:39
10:08:36 Exterior views of the London Stock Exchange (2 shots) 00:00:08
10:08:44 Views inside: screens with market values and main lobby (7 shots) 00:00:33
10:09:18 Exterior view of the London Metal Exchange. The London Metal Exchange is the world's premier non-ferrous metals market, offering futures and options contracts for metals such as aluminium, copper, nickel, zinc, lead, etc. 00:00:06
10:09:24 Traders at work, communicating with clients on the phone, making bids, etc. (14 shots) 00:01:02
10:10:27 Exterior views of the IntercontinentalExchange (ICE), London. Intercontinental Exchange (NYSE : ICE) operates regulated exchanges, trading platforms and clearing houses serving the risk management needs of global markets for agricultural, credit, currency, emissions, energy and equity index markets. Amongst its most relevant markets and products are: futures, options and OTC swaps contracts, etc. (2 shots) 00:00:13
10:10:41 Staff at work, computer screens (14 shots) 00:01:25
10:12:06 Exterior views of ICAP, brokers group in London. ICAP is an electronic interdealer broker and provider of post trade risk and information services. The Group is active in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives. (2 shots) 00:00:08
10:12:14 Main operations room with brokers on the phone, making bids, etc. (14 shots) 00:01:11
10:13:25 North Asset Management hedge fund, London. North Asset Management is an independent alternative asset manager founded in July 2002. Its flagship fund, MaxQFund, is a traditional global macro hedge fund investing in a broad spectrum of assets including global fixed income, foreign exchange and equity markets both in developed and emerging markets while also looking at special situation opportunities. Traders at work, computer screens showing market values, etc... (12 shots) 00:00:59
10:14:24 3. Credit Rating Agencies 00:02:20
10:14:24 Title 00:00:05
10:14:29 Exterior views of DBRS credit rating agency, London. Currently, DBRS rates more than 1,000 different companies and single-purpose vehicles that issue commercial paper, term debt and preferred shares in the global capital markets. (2 shots) 00:00:11
10:14:41 Staff at work, computer screens (7 shots) 00:00:36
10:15:18 Feri AG credit rating agency, Frankfurt. Feri AG offers financial advice, asset management and economic research and rating service. It is Germany's largest non-bank adviser/asset manager for private and institutional assets. Exterior view of the headquarters in Bad Homburg, Germany. 00:00:05
10:15:23 General views inside the company: staff members at work, rating evaluations and meeting between employees (15 shots) 00:01:22
10:16:45 4. Economic Governance and EU Supervisory Bodies 00:02:39
10:16:45 Title 00:00:05
10:16:50 Exterior views of the European Banking Authority (EBA), London. The EBA has officially come into being as of 1 January 2011 and has taken over all existing and ongoing tasks and responsibilities from the Committee of European Banking Supervisors (CEBS). The EBA acts as a hub and spoke network of EU and national bodies safeguarding public values such as the stability of the financial system, the transparency of markets and financial products and the protection of depositors and investors. The EBA has some quite broad competences, including preventing regulatory arbitrage, guaranteeing a level playing field, strengthening international supervisory coordination, promoting supervisory convergence and providing advice to the EU institutions in the areas of banking, payments and e-money regulation as well as on issues related to corporate governance, auditing and financial reporting. (3 shots) 00:00:13
10:17:04 Staff at work and meeting (16 shots) 00:01:16
10:18:20 Exterior views of the European Central Bank in Frankfurt, Germany (3 shots) 00:00:21
10:18:41 Mario Draghi, President of the ECB, visits the European Parliament in Brussels (5 shots) 00:00:23
10:19:05 Exterior view of the European Insurance and Occupational Pensions Authority (EIOPA), Frankfurt, Germany. EIOPA is part of the European System of Financial Supervision consisting of three European Supervisory Authorities and the European Systemic Risk Board. It is an independent advisory body to the European Parliament and the Council of the European Union. EIOPA's core responsibilities are to support the stability of the financial system, transparency of markets and financial products as well as the protection of insurance policyholders, pension scheme members and beneficiaries. 00:00:03
10:19:08 EIOPA staff at work (4 shots) 00:00:17
10:19:25 5. EU Public Finances and State Economies 00:04:55
10:19:25 Title 00:00:05
10:19:30 Exterior views of the "Istituto Poligrafico e Zecca dello Stato", Rome, Italy. This institution is in charge of minting Italian euro coins. (2 shots) 00:00:07
10:19:38 Minting process of Italian euro coins (1 cent): machines minting new coins, workers supervising the quality of the new coins and views of the final packaging (17 shots) 00:01:20
10:20:59 General views of "La Nuvola", Massimiliano Fuksas' new Convention Centre in Rome's EUR district. The centre looks like a huge translucent container. Inside the container, a steel and Teflon structure forms the "cloud" itself: a 10,000 square metre area incorporating an auditorium and meeting rooms. The Centre will also include a cafeteria, restaurants, and foyers for a total of 15,000 square metres. The project is being financed by the Municipality of Rome and Ente EUR and it is expected to be finished in 2013. (10 shots) 00:00:51
10:21:50 Large general views of the city of Athens, Greece (2 shots) 00:00:12
10:22:03 Exterior views of the SDOE headquarters, the Financial and Economic Crime Unit, Athens (2 shots) 00:00:09
10:22:12 Exterior views of the Ministry of Finance in Athens (2 shots) 00:00:10
10:22:22 Tax sinners list published by the Ministry of Finance and articles on this issue in the Greek press (9 shots) 00:00:38
10:23:01 Athens International Airport's Photovoltaic Park. The 8MWp facility, developed on a 160,000 square metre area within the airport site, is the largest solar plant at an airport worldwide. It was inagurated in 2011, after 6 months of works and a public investment of approximately 20 million euros. The solar park is expected to contribute significantly to the airport company's target of reducing the carbon footprint at its installations. Additionally, the Photovoltaic Park is projected to produce 11 million kWh annually and will reduce CO2 emissions by at least 10,000 tonnes a year. (9 shots) 00:00:47
10:23:49 View of the container port of Piraeus, Athens. In 2008, to inject some money into the State economy, the Greek government signed a deal with the Chinese allowing them to run part of the country's largest port. According to the agreement, State-controlled China Ocean Shipping Company (Cosco) will operate part of the container port of Piraeus (Pier II) for 35 years, as well as build a third pier to enhance the ports capacity. 00:00:03
10:23:52 Exterior views of the KAT Hospital in Athens with ambulance arriving. Lack of funding is forcing some Greek hospitals to close units and reduce services to patients. (4 shots) 00:00:19
10:24:11 Street works in London financed with public money (2 shots) 00:00:09
10:24:20 6. Social Impact of the Crisis 00:09:00
10:24:20 Title 00:00:05
10:24:25 15-M movement information stand in Santa Ana square, Madrid, Spain. The 2011 Spanish protests, also referred to as the 15-M Movement, are a series of ongoing demonstrations in Spain whose origin can be traced to social networks and the Real democracy NOW civilian digital platform, along with more than 200 other small associations. Even though protesters form a heterogeneous and ambiguous group, they share a strong rejection of unemployment, welfare cuts, Spanish politicians, the current two-party system in Spain, as well as the current political system, capitalism, banks and bankers, political corruption and firmly support what they call basic rights: home, work, culture, health and education. (6 shots) 00:00:25
10:24:51 Headquarters of "Pisos Embargados", Madrid. This commercial platform specialiases in re-selling flats which have been embargoed by banks once the families living in them could no longer repay their mortgages. They are the so-called "bank flats", which are now being sold for a much lower price than the standard market price. (6 shots) 00:00:25
10:25:17 Client visiting a "bank flat" from "Pisos Embargados" in Madrid (6 shots) 00:00:27
10:25:44 "Solidarios para el Desarrollo" NGO, Madrid. This is a Spanish NGO made up of volunteers to help the most vulnerable in society. In Madrid, every evening, groups of volunteers of all ages and backgrounds walk through the streets of the city and talk to the increasing number of homeless persons since the start of the financial crisis. Their objective is to offer conversation, to listen to what these persons have to say, while offering some warm soup, coffee and biscuits. Volunteers preparing the soups and coffees to take with them. (6 shots) 00:00:30
10:26:15 Sergio Garcia, volunteer, walking the streets of Madrid and meeting with two homeless persons (11 shots) 00:01:07
10:27:22 Emporio Caritas supermarket, Rome, Italy. Emporio Caritas is a medium-sized supermarket for persons and families experiencing economic difficulties. The supermarket is run by the charity Caritas and financed with the thousands of coins thrown every day by tourists into the Trevi fountain. The supermarket works with a system of points which are allocated to beneficiaries according to their specic needs (family situation and economic situation). Although basic products such as pasta, bread, oil, meat, etc.. can be obtained "for free", the price of all products is displayed in order to give the beneficiaries an idea of how much products in the real market cost. Since the start of the economic crisis, the number of persons wanting to benefit from the advantages of this supermarket keeps on increasing. Exterior views (2 shots) 00:00:09
10:27:31 Views of clients getting the products they need (20 shots) 00:01:38
10:29:10 Views of the Greek Parliament and general atmosphere in Syntagma square in Athens, Greece (4 shots) 00:00:20
10:29:30 Demonstration against austerity measures and cuts in social expenditure in the centre of Athens, 1 May 2012 (4 shots) 00:00:36
10:30:07 Views of a cinema in Athens that was burned during street riots (5 shots) 00:00:21
10:30:28 Solidarity Market at Tavros area, Athens. This is a service of the Greek church to help families in economic difficulties. Every week, they can take for free two bags with essential products such as food items, soap and toilet paper, etc. (8 shots) 00:00:34
10:31:02 Soup kitchen. General views of a soup kitchen organized by the Church of Greece 365 days a year. Here, the majority of users are immigrants without any economic means. (8 shots) 00:00:44
10:31:47 Young female at a cafe in London looking for affordable accomodation via the Easyroommate website. Easyroommate is an online platform offering affordable housing solutions via flat sharing in big European capitals, such as London. (5 shots) 00:00:27
10:32:14 Easyroommate headquarters in London, UK. Views of the staff at work, speaking on the phone to people who are looking for affordable accomodation in London (5 shots) 00:00:26
10:32:40 Young female client visiting a flat (5 shots) 00:00:40
10:33:20 7. Unemployment 00:04:05
10:33:20 Title 00:00:05
10:33:25 Young unemployed person reading the paper in a cafe in Athens and circling job adverts (3 shots) 00:00:16
10:33:42 Exterior view of a Manpower agency branch in Athens 00:00:04
10:33:46 Young unemployed girl presenting her CV at Manpower and having a first interview to determine her exact professional profile (6 shots) 00:00:26
10:34:13 Skype interview that Manpower sends to an abroad client as more and more Greeks want to leave the country (3 shots) 00:00:15
10:34:28 OAED (The Labor Force Employment Organization) headquarters in Athens, Greece. State run organisation dealing with employment issues and in charge of allocating unemployment benefits. Exterior views and atmosphere inside. The notice on the glass door reads "Unemployment Card Renewal" (5 shots) 00:00:23
10:34:52 Exterior views of a public employment office in Madrid, Spain, and young unemployed girl walking in (3 shots) 00:00:12
10:35:04 General views of the office, people waiting to be helped, and interview between the unemployed girl we saw walking in and a staff member. She is looking for courses or paid employment in the horeca sector. (11 shots) 00:00:44
10:35:49 Road sign of Villacañas at the entrance of the town. Villacañas is a small town in the Spanish province of Castilla La Mancha. Specialised in the manufacturing of wooden products, such as doors, it was strongly hit by the financial crisis and the collapse of the real estate market. 00:00:04
10:35:53 Information session on "Finding a job" organised by the Municipality of Villacañas in order to help the local unemployed population get back into the labour market (7 shots) 00:00:27
10:36:21 General views of the local employment office in Villacañas (4 shots) 00:00:19
10:36:40 Portrait of a young man (Javier Gutierrez) who worked in the doors business and has now been unemployed for more than half a year. He goes to the local employment office to renew his unemployment card and goes later to the local bar to read the newspaper. (12 shots) 00:00:46
10:37:26 8. Pensions 00:01:45
10:37:26 Title 00:00:05
10:37:31 IKA, Social Insurance Institute in Athens, Greece. This is Greece's largest social insurance provider for health and pensions. Exterior views and old people coming out (7 shots) 00:00:35
10:38:07 Exterior view of a branch of Poste Italiane in Rome, Italy. Poste Italiane is the institution in charge of administering and transfering pensions to the Italian population. 00:00:04
10:38:11 Pensioners walking in and collecting their pension in cash (9 shots) 00:01:00
10:39:11 9. Economic Impact of the Crisis 00:05:30
10:39:11 Title 00:00:05
10:39:16 Closed businesses and commercial spaces for rent and sale in the center of Madrid, Spain (7 shots) 00:00:35
10:39:52 Phantom city of Seseña, near Madrid, where the more than 4.000 apartments that were built remain unsold. Seseña, also known as "the phantom city" lies only 40 km south of Madrid. Built in 2006 on the arid grounds of Castilla, it is the fruit of real estate speculation in Spain. Of the 13.508 flats originally planned, only 5.000 have been built and only 750 persons are censed as living in Seseña. As there is no one using the social facilities built (playgrounds, swimming pools, etc.) there is hardly any maintenance and many works are left unfinished. (10 shots) 00:00:51
10:40:43 General views of Villacañas and monument to the carpenter, a profession with a strong tradition in the town (2 shots) During the boom years, lorries streamed from Villacañas's industrial park laden with nearly 80 per cent of Spain's doors, delivering some seven million a year to every corner of the nation. But now house building has ground to a halt, Villacañas's door industry is shattered. 00:00:07
10:40:51 Exterior view of company specialised in the production of doors which has closed down and is abandoned 00:00:05
10:40:56 Exterior view of Visel. Visel was founded in 1983 in Villacañas by a group of 64 professionals from the area. During the 90s, it was one of the most important companies in the doors manufacturing sector. Due to the crisis, it was forced to close down in 2011 and now the factories it had in Villacañas have been confiscated by the banks to cover the debts of the company. 00:00:04
10:41:00 Views of the abandoned factory, with machinery for sale and old doors piling up (8 shots) 00:00:30
10:41:31 Chamber of Commerce, Madrid. Exterior views (2 shots) 00:00:08
10:41:39 Businesswoman coming to the Chamber of Commerce to formally notify the closure of her company (9 shots) 00:00:43
10:42:23 Business partners getting information on how to open a new business (5 shots) 00:00:20
10:42:43 Chamber of Commerce, Rome, Italy. Exterior view 00:00:07
10:42:50 Atmosphere in the main hall and staff member working on her computer, registering new business start-ups and company closures in the area of Rome (7 shots) 00:00:35
10:43:26 Exterior view of the Bank of Greece and Kleanthis Tratras walking in. Kleanthis is a former Olympic airlines employee. When he retired, after the airline was privatised, he was given Greek State bonds as part of his compensation package. But now, with the Greek debt "haircut", the value of these bonds has substantially reduced. (8 shots) 00:00:34
10:44:00 Closed businesses and commercial spaces for rent and for sale in the center of Athens (4 shots) 00:00:18
10:44:19 Kifissia neighbourhood in Athens. General views of one of the richest areas of the Greek capital city, where commercial spaces for rent/sale can also be seen (5 shots) 00:00:23
10:44:42 10. Late Payments 00:02:18
10:44:42 Title 00:00:05
10:44:47 Businessman in Madrid visiting a lawyer of "FacilCobro" to claim unpaid bills. Facilcobro is a law practice specialised in credit recovery operating in the entire territory of Spain. (6 shots) 00:00:28
10:45:15 Client and lawyer walking to a Court of First Instance in Madrid to present a law suit (2 shots) 00:00:11
10:45:27 Client and lawyer talking to a judge and views of the folders containing information on legal cases piling up in the shelves (11 shots) 00:00:45
10:46:12 Local Mini-Market, Athens, Greece (8 shots) Due to the crisis in Greece, more and more people can't pay for the daily life products and ask the local supermarkets to write it down so they can pay at a later date. 00:00:44
10:46:57 Copyright 00:00:03
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