Eurogroup meeting: extracts from the press conference by Jean-Claude JUNCKER, President of the Eurogroup and Olli REHN, Vice-President of the EC in charge of Economic and Monetary Affairs and the Euro

Type: News   Reference: 88640   Duration: 00:03:47  Lieu: Brussels, Belgium - Council
End production: 08/10/2012   First transmission: 08/10/2012
On 8 October, Jean-Claude Juncker, President of the Eurogroup, Olli Rehn, Vice-President of the EC in charge of Economic and Monetary Affairs and the Euro, and Christine Lagarde, IMF President, held the press conference of the Eurogroup meeting. Following the last review on Portugal, the heads of the group finance announced that 4.3 billions Euros will be made available to the country. A part of the amount still needs to be approved by the Ecofin and the IMF Executive board. Christine Lagarde, IMF President, added she will recommend the disbursement tranche of 1.5 billions Euros to the IMF Executive board. Greece and its international lenders need to reach agreement quickly on a program of reforms so the next tranche of aid can be released. Jean-Claude Juncker gave Greece until the 18 October to implement the 89 prior actions agreed in March.

Only the original language version is authentic and it prevails in the event of its differing from the translated versions.
PDF version

TIME DESCRIPTION DURATION
00:00:00 Title 00:00:05
00:00:05 General view of the speakers 00:00:12
00:00:17 Cutaway of press 00:00:06
00:00:23 SOUNDBITE (in English) Jean-Claude Juncker, President of the Eurogroup: The Eurgroup looks forward to the conclusions of a full agreement on the conditionality also including a robust program package measure in the area of structural reforms, privatisations and financial sector stabilisation. We also stress that before the next disbursement; Greece should clearly and credibly demonstrate its strong commitment to fully implement the program. The 89 prior actins agreed in March implemented by the 18 of October at the latest. 00:00:32
00:00:55 Cutaway of the audience (2 shots) 00:00:09
00:01:04 SOUNDBITE (in English) Jean-Claude Juncker: Following the fifth review, we did approve the next disbursement of 800 million Euros, a total of 4.3 billions Euros will be made available to Portugal including the EFSM disbursement of 2 billions Euros which will have to be decided by the ECOFIN Council tomorrow and the IMF disbursement of 1.5 billions Euros to be approved by the IMF Executive board at the end of October. But we can not prejudge on this decision which will have to be decided by the board of the IMF. 00:00:48
00:01:52 Cutaway of the audience (2 shots) 00:00:10
00:02:02 SOUNDBITE (in English) Christine Lagarde, IMF President: Portugal, very briefly, I would just like to mention that I shall be recommending to the board the approval of the review of the Portuguese program. So that the disbursement of the IMF tranche can take place But obviously it is up to the board to decide but I will recommend the disbursement. 00:00:21
00:02:23 Cutaway of the audience 00:00:09
00:02:32 SOUNDBITE (in English) Olli Rehn, Vice-President of the EC in charge of Economic and Monetary Affairs and the Euro: I welcome the fact the Eurogroup approved the fifth review for Portugal and the disbursement. And I welcome the fact that the Eurogroup reorganises significant progress made both in Spain and Greece. Concerning Greece the review of the program continues and it is making progress. I believe that there is the necessary willingness on the part of the Greek authorities to agree the measures needed to set Greek public finances back on a sustainable path. 00:00:46
00:03:18 Cutaway of the audience 00:00:07
00:03:25 Speakers leaving 00:00:22
00:03:47 End 00:00:00
Audiovisual Services
European Commission
ec.europa.eu/avservices
 
Conditions of use
© European Union, 2014