GERMANY: Restoring confidence in euro "top priority," says Germany

Record ID: 745466

  • Title: GERMANY: Restoring confidence in euro "top priority," says Germany
  • Date: 21st May 2010
  • Summary: BERLIN, GERMANY (MAY 20, 2010) (REUTERS) EXTERIOR OF FINANCE MINISTRY POLICEMEN OUTSIDE WIDE OF CONFERENCE GERMAN CHANCELLOR ANGELA MERKEL SEATED IN AUDIENCE, SCHEDULED TO BE SECOND SPEAKER AFTER FINANCE MINISTER WOLFGANG SCHAEUBLE PHOTOGRAPHERS TAKING PICTURES (SOUNDBITE) (German) GERMAN FINANCE MINISTER, WOLFGANG SCHAEUBLE SAYING: "I will not go into detail and just say this -- and we all agree within the euro zone and EcoFin: The top priority is to restore confidence in the euro. This will only be achieved if the measures will be supplemented by regulation and oversight. There is acute need for action." AUDIENCE SEATED (SOUNDBITE) (German) GERMAN FINANCE MINISTER, WOLFGANG SCHAEUBLE SAYING: "The goal is a stable, powerful and effective financial system, a financial system which -- and this needs to be underlined from time to time -- which fulfills its serving function for the real economy." AUDIENCE SEATED (SOUNDBITE) (German) GERMAN FINANCE MINISTER, WOLFGANG SCHAEUBLE SAYING: "At the latest with the crisis in Greece and the effects on the entire euro zone showed that we can not afford to slow down our reform efforts. We must decisively work against all counter-attempts, and in addtition, the international community pick up momentum again in its strive for reforms." WIDE OF CONFERENCE
  • Embargoed: 5th June 2010 13:00
  • Keywords:
  • Location: Germany
  • Country: Germany
  • Topics: Finance
  • Reuters ID: LVA6K82FIGFO0AE9M6U2ZG1AADUX
  • Story Text: Restoring confidence in the euro is the top priority for policymakers, German Finance Minister Wolfgang Schaeuble says at an international financial conference in Berlin.
    German Finance Minister Wolfgang Schaeuble told an international conference on financial regulation Berlin on Thursday (May 20) that restoring confidence in the euro is the top priority for policymakers.
    "This will only be achieved if the measures will be supplemented by regulation and oversight. There is acute need for action," Schaeuble said in opening remarks to a gathering attended by, among others, Chancellor Angela Merkel and European Union Commissioner for Domestic Markets, Michel Barnier.
  • Copyright Holder: REUTERS
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