FRANCE: FRENCH AND GERMAN FINANCIERS HOLD TALKS BEFORE A KEY MEETING OF EUROPEAN UNION FINANCE MINISTERS
- Title: FRANCE: FRENCH AND GERMAN FINANCIERS HOLD TALKS BEFORE A KEY MEETING OF EUROPEAN UNION FINANCE MINISTERS
- Date: 10th March 1998
- Summary: TOURS, FRANCE (MARCH 10, 1998) (RTV - ACCESS ALL) 1. TRACK EXTERIOR TOURS CONGRESS CENTRE 0.12 2. SV DEMONSTRATORS FOLLOW FRENCH FINANCE MINISTER DOMINIQUE STRAUSS-KAHN AND BANK OF FRANCE GOVERNOR JEAN-CLAUDE TRICHET (3 SHOTS) 0.32 3. SLV PROTESTERS ACROSS STREET 0.36 4. SV PROTESTER'S BANNER LISTING DEMANDS 0.39 5. SLV GERMAN FINANCE MINISTER THEO WAIGEL LEAVES CAR 0.43 6. SV BUNDESBANK HEAD HANS TIETMEYER 0.49 7. SV WAIGEL AND STRAUSS-KAHN WALK ALONG CORRIDOR FLANKED BY TRICHET AND TIETMEYER 1.10 8. PAN FROM STRAUSS-KAHN TO WAIGEL SEATED AMONG OFFICIALS AT TABLE 1.07 9. SV STRAUSS-KAHN SEATED 1.08 10. SV WAIGEL AND TIETMEYER SEATED 1.14 11. SLV TRICHET, STRAUSS-KAHN, WAIGEL, TEITMEYER SEATED AT NEWS CONFERENCE 1.17 12. SCU STRAUSS-KAHN SAYING, "PRUDENCE AND OPTIMISM, PREPARATION OF THIRD PHASE OF EUROPEAN UNION, PRAGMATISM, FOR ENTERING INTO A ZONE WHERE IT IS NECESSARY TO UNDERTAKE MATTERS CONCRETELY, NO MORE ACCORDING TO PRINCIPLES BUT WITH A VIEW TO IMPLEMENTATION. REGARDING THE FUNCTIONING OF THE EUROPEAN UNION BUDGETARY PRUDENCE IS NEEDED. THOSE ARE THE SUBJECT OF OUR USELFUL TALKS THIS MORNING." (FRENCH) 1.58 13. SCU WAIGEL SAYING, "WE WERE BOTH ABLE TO ASCERTAIN THAT BOTH OUR ECONOMIES ARE ON THE UP. INDICATORS FOR GERMANY PREDICT FURTHER UPWARD MOBILITY FOR GERMAN INDUSTRY IN GENERAL. TWO AND A HALF TO THREE PERCENT GROWTH EXPECTED" (GERMAN) 2.50 14. LV TRICHET, STRAUSS-KAHN, WAIGEL, TEITMEYER SEATED AT NEWS CONFERENCE 2.55 Initials Script is copyright Reuters Limited. All rights reserved
- Reuters ID: LVA8NX7CH1E9KAQQQBLOJ0SJGWZB
- Location: TOURS, FRANCE
- Country: France
- Duration: 00:02:54
- Story Text: French and German finance ministers and central bank governors have held talks designed to fine tune their positions ahead of a key meeting of European Union (EU) finance ministers later this month.
The meeting between French Finance Minister Dominique Strauss-Kahn, Bank of France governor Jean-Claude Trichet, German Finance Minister Theo Waigel and Bundesbank head Hans Tietmeyer finished during the morning on Tuesday (March 10).
Strauss-Kahn said that he and Waigel agreed growth prospects were improving and that European countries should take advantage of this to cut budget deficits further.
But he avoided a question on whether and how quickly France should aim to wipe out its deficit, running at three percent of gross domestic product in 1997, saying this depended on economic growth.
The EU's budget stability pact agreed last year calls on EU countries to seek balanced budgets in periods of growth, giving them the leeway to run a deficit of up to the maximum permitted three percent of GDP at times of recession.
Waigel said Germany was expected to post a growth rate of between two and a half and three percent.
France and Germany hold regular talks to try to build common positions ahead of full European Union meetings -- in this case they prepared for an informal meeting of EU finance ministers and central bankers in York, England on march 21.
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