Exchange of views with Olli REHN, Vice-President of the EC in charge of Economic and Monetary Affairs and the Euro:

Type: News   Reference: 93376   Duration: 00:03:38  Lieu: Brussels, Belgium - European Parliament
End production: 23/04/2013   First transmission: 23/04/2013
- extracts EP Committee on Economic and Monetary Affairs

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
00:00:00 Title 00:00:05
00:00:05 Exterior view of the European Parliament, Brussels, Belgium (1 shot) 00:00:05
00:00:10 Arrival shots and atmosphere, (5 shots) 00:00:19
00:00:29 SOUNDBITE (English): Olli REHN, Vice-President of the EC in charge of Economic and Monetary Affairs and the Euro: "External finance reliabilities remain a risk for several countries. Second, competitiveness both structural and cost competitiveness remain crucial concerns in a number of economies in the European Union. Third, deliberalisation is moving on in the private sectors but debt levels remain still high, which translates in low consumption and investment and thus weighs negatively on economic growth." 00:00:40
00:01:09 SOUNDBITE (English): Olli REHN, Vice-President of the EC in charge of Economic and Monetary Affairs and the Euro: (talking about Slovenia) "The risk for financial stability that stem from corporate indebtedness and deleveraging are substantial. These risks are compounded by the limited assessment capacity in labour and capital markets and in the economic structure, which is dominated by state ownership in Slovenia. " 00:00:27
00:01:36 SOUNDBITE (English): Olli REHN, Vice-President of the EC in charge of Economic and Monetary Affairs and the Euro: "The speed of pace of fiscal consolidation is now slowing down in Europe. This year, the structural fiscal effort will be 0.75% of GDP in the Euro area, which is half of last year's figure of 1.5%. " 00:00:25
00:02:01 SOUNDBITE (English): Olli REHN, Vice-President of the EC in charge of Economic and Monetary Affairs and the Euro: "At the moment, the biggest obstacle to the rival of growth, especially in southern Europe, is today's liquidity trap which is in fact a financing trap and it is essential that all efforts by all EU institutions and member states are made to address these urgent priority, so that exporting and growth-seeking businesses can get the financing they need in order to support economic growth and job creation." 00:00:34
00:02:35 SOUNDBITE (English): Olli REHN, Vice-President of the EC in charge of Economic and Monetary Affairs and the Euro: (talking about France) "It is correct that France is facing and it is experiencing macroeconomic imbalances, which require decisive policy action, in particular the deterioration of France export performance which is driven both by cost and non-cost factors, also in the context of a deteriorating external position and high public debt deserves continued attention. This is necessary to reduce the effect of adverse effects on the functioning of the French economy and of the economic and monetary union, because France is indeed a core country of the Euro zone." 00:00:49
00:03:24 Cutaway (1 shot) 00:00:14
00:03:38 END 00:00:00
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