00:00'10"Interior, Arrival of Olli REHN, Commissioner-designate for Economic and Monetary Affairs,Press photographer, 5 shots in total before the Hearing
00:00'35"SOUNDBITE in EN: Olli REHN, Commissioner-designate for Economic and Monetary Affairs (part of the speech): The Economic and Monetary Affairs are the most important corner stone of the social market in Europe. I feel responsible to its goals.
00:00'57"SOUNDBITE in DE: Olli REHN, Commissioner-designate for Economic and Monetary Affairs (part of the speech): Economic stability in Europe can also be reinforced through a gradual enlargement of the euro area, for which I shall work on the basis of the existing and well-known rules and equal treatment.
00:01'13"SOUNDBITE in EN: Olli REHN, Commissioner-designate for Economic and Monetary Affairs, (part of the speech): We need increased investment and intensified innovation. We need innovative financial instruments both from public and private sources of finance.
00:01'30"SOUNDBITE in EN: Olli REHN, Commissioner-designate for Economic and Monetary Affairs: We must use the Treaty to reform the EURO Area, coordination and surveillance, inserting policy guidelines, deepening preventive surveillance, for instance the Commission will have a right to issue warnings and recommendations. 2nd likewise we must capitalise on the Treaty in order to broaden the surveillance, for instance to macro economic imbalances and in that context the macro prudential surveillance of the European systematic risk board will be very important. And in this context we can use these new instruments in order to give spin and rigour to the objective of the EU2020 strategy. Which needs to be better monitored and it needs to be based on partnership and genuine ownership of our MS.
00:02'35"SOUNDBITE in EN: Olli REHN, Commissioner-designate for Economic and Monetary Affairs: We should not underestimate to work towards a unified representation of the Euro area and EURO zone in international institutions and fora such as G20 or International Monetary Fund. Currently we punch below our weight by standing united we can lead not only follow.
00:03'03"SOUNDBITE in EN: Olli REHN, Commissioner-designate for Economic and Monetary Affairs: I want to see that the EU highest quality of transparency and code of conduct in relation to lobbyists in the world and I trust that all the European institution will join this kind of conduct in the future. I'm not so worried about myself and you should not be worried of me concerning lobbyists, I prefer a diner at home with my family than having a diner with lobbyists in a "Maison de cygne" - No offence!
00:03'40"SOUNDBITE in EN: Olli REHN, Commissioner-designate for Economic and Monetary Affairs: (question by Mr CANFIN) In my view the exchange rate of the Euro in relation to the Dollar and plus the Chinese currency is a potential risk for European recovery and therefore we have to discuss with the Chinese in the bi-lateral and multilateral context.
Jan. 11 (Bloomberg) -- Olli Rehn, the European Union official picked to tackle the regions fiscal crisis, said the 27-nation bloc faces a very critical situation over Greeces budget deficit.
It is essential that rapid action is taken to avoid the situation getting worse, Rehn told a European Parliament committee today in Brussels during his confirmation hearing. While the EU is assessing the matter with major concern, he said Greece is unlikely to leave the euro region.
The Greek government is aware of the seriousness of the deficit situation and that its room for maneuver is very limited, Rehn said.
The International Monetary Fund will send a team to Greece tomorrow after the government in Athens requested technical assistance in tackling the regions largest deficit, the IMF said today. In the context of regular surveillance, the fund will explore possibilities for help on pension reform, tax policy, tax administration and budget management, a spokeswoman for the Washington-based lender said in a statement.
The risk for Rehn, a 47-year-old Finn, is that failure to cajole Greece into cutting the budget shortfall, estimated at 12.7 percent of gross domestic product last year, could further undermine EU fiscal rules and hurt the bonds of other EU nations struggling to get their deficits under control.
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Fuck Rhen the comments made about Romania and Bulgaria not too long ago. You fucking ushered us into the EU, and we're in the EU now you say "it was not right". Hypocritical wanker
AncutaMerkel 1 year ago
Germany alone is the biggest exporter in the world. And then there's the whole Eurozone.
Excuse me, dear wog, but what does barbados 'WORK' at exactly besides selling trunks and laundering money?
MarquisdeBarrabas 2 years ago
they should stop it
Inky261 2 years ago
For To start To Stop make Trader normal People!!
CIPPALA 2 years ago
Who do you think paid this crisis ? ...Eastern europeans and icelandics. Europeans need cheap neighbours Lets face it, western euros dont work, they do have this absurdly overrated currency and need cheap food and cheap labour, thats all what the eastern block provides.
Needless to say , they were the ones who were forced to devalue their currency, not europeans, devaluation creates jobs, too , but WORKING is something western europeans dont do much.
jjbarbados 2 years ago
Åhh no!
We are now in the late state of the financial crissis.
There fore we should invest in puplic work, such as new road´s to insure job´s and there fore create job stability.
And we should also invest in our school´s because our children are now seeking in to the university´s and other higher learning institutions.
Sorry if my english slipped some times...
JDviking 2 years ago
Enlargement of the Eurozone for... stability? Innovative finance instruments?! And - did I understand it right - stiffer monetarist policies?
And an unenforceable 'code of conduct' to control lobbyism?!
Oh, my, my, my , my.....
This is like watching a car crash in slow motion.
MarquisdeBarrabas 2 years ago