- Title: FRANCE: SINGLE CURRENCY TALKS
- Date: 12th March 1997
- Summary: LYON, FRANCE (MARCH 12, 1997)(RTV - ACCESS ALL) 1. SLV CAR CARRYING GERMAN FINANCE MINISTER THEO WAIGEL ARRIVING AT LYON PREFECTURE / WAIGEL LEAVES CAR AND GREETS FRENCH FINANCE MINISTER JEAN ARTHUIS 0.31 2. LAS BUILDING TILT DOWN TO THE LEADERS GATHERED ARTHUIS, WAIGEL, FRENCH AND GERMAN CENTRAL BANK GOVERNORS HANS TIETMEYER AND JEAN-CLAUDE TRICHET POSING FOR MEDIA 0.35 3. SCU WAIGEL AND ARTHUIS COME UP STAIRS INSIDE BUILDING 0.44 4. LAS DECORATIVE CEILING WITH CHANDELIERS TILT DOWN TO MINISTERS AND CENTRAL BANK GOVERNORS SEATED FOR MEETING 0.49 5. SCU ARTHUIS, WAIGEL, TIETMEYER AND TRICHET TAKE PLACES AT NEWS CONFERENCE/ SEATED AT PODIUM (5 SHOTS) 1.17 6. SCU ARTHUIS SAYING THAT AFTER A SLOW DOWN IN FRENCH AND GERMAN ECONOMIES IN 1996 THE PROSPECTS LOOK GOOD FOR 2.5. PER CENT GROWTH (FRENCH) 1.55 7. SLV LEADERS SEATED AT PODIUM 1.59 8. SCU WAIGEL SAYING THROUGH THEIR BUDGETARY MEASURES GERMANY AND FRANCE ARE STRENTHENING THEIR DEFICIT FOR 1997 TO UNDER THREE PER CENT OF GROSS DOMESTIC PRODUCT (GERMAN) 2.29 9. SLV LEADERS SEATED AT PODIUM 2.36 10. SCU TIETMEYER WITH REPORTERS SAYING "I HAVE SAID THERE IS A TIMETABLE. THE DECISION WILL BE TAKEN LATER WHICH COUNTRIES WILL BE FULFILLING THE CRITERIA, SO THERE IS NO REASON TALKING ABOUT THE TIMETABLE" (ENGLISH) 2.50 12. GV EXTERIOR OF PREFECTURE 2.56 Initials P3/2 S3 Script is copyright Reuters Limited. All rights reserved.
- Embargoed: 27th March 1997 12:00
- Keywords:
- Location: LYON, FRANCE
- City:
- Country: France
- Reuters ID: LVA5RQI4PZPT97D4JWB2D318FM5S
- Story Text: : - INTRO: France and Germany, the leaders in the drive to European monetary union, are expected to reaffirm their determination to launch a single currency on time in January 1999.
French Finance Minister Jean Arthuis, his German counterpart Theo Waigel, and French and German central bank heads Jean-Claude Trichet and Hans Tietmeyer were holding talks in Lyon on Wednesday (March 12) to discuss the single currency and the economic outlook.
The meeting, part of a regular series between the finance ministers and central bankers of Europe's two biggest economies, takes place amid resurgent speculation about a delay to EMU.
This has been fuelled by worries that Germany may be unable to cut its budget deficit to three per cent of gross domestic product this year in line with the Maastricht treaty requirements.
Arthuis said Germany and France were in a good position to achieve 2.5 per cent economic growth this year.
Waigel said Germany was in a position to keep its deficit below the three per cent product this year, the key year for deciding which countries qualify to join a single currency when it is first launched in 1999.
Tietmeyer brushed off questions about the risk that monetary union will not start on time because Germany might not make the grade to take part in the planned launch in January 1999.
"Germany is trying to meet the criteria. There is a timetable and the decision will be taken later. There is no reason to talk about this," Tietmeyer said.
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