Eurogroup meeting: extracts from the press conference by Jeroen DIJSSELBLOEM, President of the Eurogroup; Olli REHN, Vice-President of the EC in charge of Economic and Monetary Affairs and the Euro; and Klaus REGLING, ESM Managing Director

Type: NEWS   Référence: 92586   Durée: 00:03:03   Première transmission: 11/02/2013  Lieu: Brussels, Belgium - Council / Justus Lipsius
Fin de production: 11/02/2013
A Eurogroup meeting took place on 11 Febrary in Brussels under newly elected Eurogroup President Jeroen Dijsselbloem, which discussed, among other issues, Cyprus’ application for financial bailout. They also discussed about the next autumn economic forecast which will be published in 22 Febrary. Olli Rehn, Vice-President of the EC in charge of Economic and Monetary Affairs and the Euro advanced some of the economic trends for the next season.

Only the original language version is authentic and it prevails in the event of its differing from the translated versions.
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HEURE DESCRIPTION DUREE
00:00:00 Title 00:00:05
00:00:05 Arrival of the speakers 00:00:09
00:00:14 Cutaway 00:00:06
00:00:20 SOUNDBITE (in English) by Jeroen Dijsselbloem, President of the Eurogroup: We discussed Cyprus, the state of place; we took stock of the progress made by the Troika on the way towards the finalisation of the program after the upcoming presidential elections in Cyprus. In this context today's discussions focused on remaining concerns surrounding anti money laundering. The IMF is currently undertaking updated of their assessments of the legal framework against money laundering. In addition we discussed the way forward on an assessment of the implementation of this legal framework in Cypriot financial institutions. Based on the advice given by the institutions we agree that an independent assessment conducted by a private sector firm is required and we requested the Troika and Cyprus to agree on the terms of references for such an assessment within a week. 00:00:59
00:01:19 Cutaway 00:00:06
00:01:25 SOUNDBITE (in English) by Olli Rehn, Vice-President of the EC in charge of Economic and Monetary Affairs and the Euro We can say that since the last Eurogroup we have seen continuation of the normalisation of the market conditions that has been in fact underway since last autumn. This trend indicates that forward looking actors are increasingly pricing in the benefits effects over growth enhancing reforms of the progress that is been made in fiscal consolidation and also over the rebalancing that is underway currently in the Eurozone economy. 00:00:41
00:02:06 SOUNDBITE (in English) by Olli Rehn, Vice-President of the EC in charge of Economic and Monetary Affairs and the Euro We can say that since the last Eurogroup we have seen continuation of the normalisation of the market conditions that has been in fact underway since last autumn. This trend indicates that forward looking actors are increasingly pricing in the benefits effects over growth enhancing reforms of the progress that is been made in fiscal consolidation and also over the rebalancing that is underway currently in the Eurozone economy. 00:00:06
00:02:12 SOUNDBITE (in English) by Klaus REGLING, ESM Managing Director: These last two years, the EFSF disbursed 153 billion euro to Ireland, Portugal and Greece and the ESM disbursed 42 billion to Spain. So within a very short period of time coming form zero these two institutions have disbursed 195 billion of Euro this was financed by issuing bonds and builds. I think it is quite an important element in our strategy to create financial stability in the Euro-area. 00:00:43
00:02:55 Departure of the speakers 00:00:08
00:03:03 END 00:00:00
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