Extracts from the EC Midday press briefing by Chantal Hughes, Spokesperson of Michel Barnier, on Euro area and EU27 GDP both up by 0.3%
Type: Summary of press conference
End production: 15/08/2013 First transmission: 14/08/2013
On 14 August 2013, Chantal Hughes, Spokesperson of Michel Barnier, Member of the EC in charge of Internal Market and Services, presented at the European Commission in Brussels, Belgium, the GDP flash estimates for the second quarter of 2013 for both the euro area and the EU27, released by Eurostat.
Only the original language version is authentic and it prevails in the event of its differing from the translated versions.
||Exterior view of the Berlaymont building in Brussels, Belgium
||General view of the speakers
||Soundbite by Chantal Hughes, Spokesperson of Michel Barnier, Member of the EC in charge of Internal Market and Services, (in ENGLISH): The GDP flash estimates for the second quarter of 2013 for both the euro area and the EU27 were released about an hour ago by Eurostat.
In light of these and other recent indicators, Vice-President Rehn has made the following comments: Today's figures, when combined with other recent positive survey data are encouraging and suggest the European economy is gradually gaining momentum. They support the European Commission's 2013 spring forecast and its projections for a subdued, mild recovery in the second half of 2013.
The data supports also, in my view, the fundamentals of our crisis response: a policy mix where building a stability culture and pursuing structural reforms supportive of growth and jobs go hand in hand.
This slightly more positive data is welcome - but there is no room for any complacency. Self-congratulatory statements suggesting that the crisis is over are definitely not for today.
There are still substantial obstacles to overcome: the growth figures remain low and the tentative signs of growth are still fragile; the averages hide important differences between Member States, a number of Member States still have unacceptably high unemployment rates; the implementation of essential but difficult reforms across the EU is still in its early stages. So, there is still a very long way to go.
A sustained recovery is now within reach but only if we persevere on all fronts of our crisis response: keep up the pace of economic reform, regain control over our debt, both public and private, and build the pillars of a genuine Economic and Monetary Union.
||Cutaway of the audience (2 shots)