BELGIUM: European Commission strong message of confidence sent to investors

Record ID: 784419

  • Title: BELGIUM: European Commission strong message of confidence sent to investors
  • Date: 9th August 2011
  • Summary: BRUSSELS, BELGIUM (AUGUST 1, 2011) (REUTERS) ENTRANCE OF EUROPEAN COMMISSION EU LOGO BRUSSELS, BELGIUM (AUGUST 8, 2011) (REUTERS) EUROPEAN COMMISSION SPOKESMAN OLIVIER BAILLY AT NEWS BRIEFING (SOUNDBITE) (English) EUROPEAN COMMISSION SPOKESMAN, OLIVIER BAILLY, SAYING: "All of the messages that came over the weekend from the G20, the G7, the different member states and the European Central Bank go in the right direction, in the good, in the same direction and send a strong message of confidence to the markets and to the key players.'' BRIEFING ROOM PEOPLE LISTENING BAILLY AT NEWS BRIEFING (SOUNDBITE) (English) EUROPEAN COMMISSION SPOKESMAN, OLIVIER BAILLY, SAYING: ''As we said already we don't see any need for financial support for Italy and Spain, as Mr Rehn stated in this pressroom the situation of, and the fundamentals of these member states is very clear. They have announced further, further measures towards fiscal consolidation for next year and for 2013 and 2014, so we trust that these measure will be enough to ensure financial stability.'' BRUSSELS, BELGIUM (AUGUST 1, 2011) (REUTERS) EU FLAGS EU FLAGS IN FRONT OF EUROPEAN COMMISSION
  • Embargoed: 24th August 2011 13:00
  • Keywords:
  • Location: Belgium, Belgium
  • Country: Belgium
  • Topics: Economy
  • Reuters ID: LVA8TM9RTJRJ0WPHLVHSZNHAS6BK
  • Story Text: The latest measures taken by the European Central Bank and pledges by the G7 and G20 over the weekend should reassure investors, the European Commission said on Monday (August 8).
    "All of the messages that came over the weekend from the G20, the G7, the different member states and the European Central Bank go in the right direction, in the good, in the same direction and send a strong message of confidence to the markets and to the key players," Commission spokesman Olivier Bailly told a daily briefing.
    He also said there was no need for financial support for Italy or Spain.
    ''As we said already we don't see any need for financial support for Italy and Spain, as Mr Rehn stated in this pressroom the situation of, and the fundamentals of these member states is very clear. They have announced further, further measures towards fiscal consolidation for next year and for 2013 and 2014, so we trust that these measure will be enough to ensure financial stability,'' Bailly said.
    Earlier on Monday, the European Central Bank stepped into bond markets, backing up a pledge to support Spain and Italy with the aim of averting financial meltdown in the euro zone, while the G7 and G20 sought to reassure investors.
    Markets were shaken by a historic downgrade of the U.S. debt rating on Friday.
  • Copyright Holder: REUTERS
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