Juncker, Lagarde, Almunia Arrive at Eurogroup Talks

Luxembourg Prime Minister and Eurogroup President Jean-Claude Juncker, French Finance Minister Cristine Lagarde and EU Commissioner for Economic Affairs Joaquim Almunia arrive in Brussels for today's Eurogroup talks on the economic crisis. The meeting includes all finance ministers of the eurozone countries.

The main purpose of the meeting is to agree on a common EU position for the G20 meeting of finance ministers and central bank governors in London on 4-5 September. The policy areas which are currently on the G20 agenda and which may be discussed at the meeting are as follows: the general economic situation, including a discussion of a strategy to ensure stability and sustainability of public finances.
Avoidance of future financial crises. This includes measures to strengthen financial market regulation and supervision.
Reform of governance and representation in the IMF, the World Bank and regional multilateral development banks and strengthening their resources.
The issue of reforming international multilateral lending facilities to assist the very poorest countries in achieving a balanced and long-term recovery.

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Title
00:00:05
Jean-Claude Juncker, President of Eurogroup
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Cutaway
00:00:18
SOUNDBITE (English) Jean-Claude Juncker: Time has not yet come to withdraw the fiscal stimulus, we have to continue this effort, in the course of this year and next year, then we have to agree on an exit strategy, we will discuss this.
SOUNDBITE (French) Jean-Claude Juncker: I totally support France's proposals.
00:00:42




Jean-Claude Trichet, ECB President
00:00:48
SOUNDBITE (French) Christine Lagarde, French Minister of Economic Affairs: we have very firm proposals, to set the bonus and payment questions in order, which are emblematic issues. We shall see at the end of the meeting, however we will try to be followed.
00:01:03




SOUNDBITE (English), Joaquin Almunia, EC member in charge of Economic and Monetary Affairs
: the exit strategy from this crisis should be coordinated first of all at the European level, also at the global level, we will discuss about this during the next G20 meeting in London.
The member States of the European Union should follow the guidelines that were included in our recommendations in April in the financial and stability board recommendations also in April, some of them are adopted in some of the measures that I consider adequate in this regard.
00:01:44
Cutaway
00:01:48




Elena Salgado Mendez, Spanish Minister for Economy and Finances
00:01:55
END

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