Extracts from the joint press statements by Herman VAN ROMPUY, President of the European Council, and Jack LEW, US Secretary of the Treasury, following their meeting at the European Council:

Type: News   Reference: i-077309   Duration: 00:02:53  Lieu: Brussels, Belgium - EC/Berlaymont
End production: 08/04/2013   First transmission: 08/04/2013
On 08 April, Herman Van Rompuy, President of the European Council received Jack Lew, United States Secretary of Treasury. Lew is visiting Europe for the first time as U.S. Treasury Secretary. The main issues under discussion will be how to impose austerity measures on bailed out countries like Greece, Portugal, Ireland and now Cyprus and how to regain competitiveness in the Euro-zone.

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TIME DESCRIPTION DURATION
00:00:00 Title 00:00:05
00:00:05 Arrival of Herman Van Rompuy, President of the Euroepan Council and Jack Lew, US Secretary of the Treasury 00:00:06
00:00:11 SOUNDBITE (in English) by Herman Van Rompuy: Our meeting today was a good opportunity to discuss a wide range of economic issues of common concern. We took stock of the current situation and the outlook for the world economy and in particular of developments in the United States and in the European Union. And we exchanged views on the best course of action. Both of our economies continue to heal from the financial and economic crisis. We continue to rebalance and rebuild our economic potential to ensure strong, sustainable and inclusive growth and jobs going forward. 00:00:39
00:00:50 General view of the speakers 00:00:04
00:00:54 SOUNDBITE (in English) by Herman Van Rompuy: The Eurogroup and its President have been working intensely on this matter and will deliver a framework allowing such direct ESM recapitalisation by June 2013. We know that we all have to live up to the task and commitments we took to complete our monetary union. We look forward to continue our intense economic dialogue at every level of government, including at the upcoming G8 summit. We remain convinced that EU-US cooperation is essential to a strong global economy. 00:00:38
00:01:32 SOUNDBITE (in English) by Jack Lew, US Secretary of the Treasury: In the US the economic recovery is gathering strength. American business and consumers have demonstrated their resilience with consumption and investment continues to growth as government support for economy as receded. The US economy is expending for 14 consecutive quarters and although the pace of job creation is not as fast as we would like. The private sector has added jobs for 37 straight months. As we address our long term challenges however our economy remains sensitive to some events and we have a main stake in Europe's health and stability. 00:00:36
00:02:08 SOUNDBITE (in English) by Jack Lew: Finally we discuss about the transatlantic trade investment partnership which reflects our strong believe that our economic relationship can be even more productive as a source of trade, jobs and growth. I look forward to continue our close engagement, as President Van Rompuy as noticed, Europe's longer term crisis of integration is resignated behind economics; it helps transform a continent of wars into a continent of peace. United States has no bigger no more important economic relation ship that it does with Europe. And we have high expectations that can be achieved. 00:00:36
00:02:44 Handshake and departure 00:00:09
00:02:53 END 00:00:00
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