- Title: Germany's DAX relieved by CETA progress
- Date: 27th October 2016
- Summary: FRANKFURT, GERMANY (OCTOBER 27, 2016) (REUTERS) TRADING FLOOR AT FRANKFURT STOCK EXCHANGE TRADERS DAX CURVE VARIOUS OF TRADERS VARIOUS OF BANK SHARES ON BOARD (SOUNDBITE) (German) HEAD OF CAPITAL MARKETS ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "There is movement from the EU world after all, thank God. Belgium's central government has negotiated with Wallonia and brought its recalcitrance to an end by giving the farmers more guarantees. I expect that this additional declaration, which does not change the agreement text itself, has already been discussed with the Canadians during these negotiations, so I think we can now say: CETA is going to happen." VARIOUS OF TRADERS LOW OF 10,656.18 POINTS (SOUNDBITE) (German) HEAD OF CAPITAL MARKETS ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "Certainly, the stock exchange is extremely relieved, because the impression was that Europeans were showing themselves to be unable to come to agreements, but now that is no longer the case. After lots of haggling we have managed it. I hope that further trade agreements, for example TTIP in the USA, won't take so long." VARIOUS OF TRADERS HIGH OF 10,772.67 POINTS (SOUNDBITE) (German) HEAD OF CAPITAL MARKETS ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "I expect that CETA will work. The Canadians want it to work because they too are having problems with trade agreements with the USA. And if both sides, the Canadians and the Europeans, want CETA to happen then I think it will go through." VARIOUS OF TRADERS BOARD SHOWING LOSS OF 8.59 POINTS, OR 0.08 PERCENT TRADERS DAX CURVE PEOPLE IN VIEWING GALLERY TRADING FLOOR
- Embargoed: 11th November 2016 14:20
- Keywords: EU Canada trade deal CETA stocks
- Location: FRANKFURT, GERMANY
- City: FRANKFURT, GERMANY
- Country: Germany
- Topics: Economic Events
- Reuters ID: LVA00155S79N1
- Aspect Ratio: 16:9
- Story Text: Analysts at the German stock exchange on Thursday (October 27) welcomed Belgium's decision to approve a landmark European Union-Canada free trade agreement which breaks a deadlock that has blocked the pact for weeks.
"Belgium's central government has negotiated with Wallonia and brought its recalcitrance to an end by giving the farmers more guarantees," head of capital markets analysis at Baader Bank, Robert Halver, said.
Belgium's Prime Minister Charles Michel said earlier on Thursday that the heads of the regions had drawn up an addendum to the agreement that answered their concerns over the rights of farmers and governments- an addendum that still needs the approval of Canada and other EU states.
"I expect that this additional declaration, which does not change the agreement text itself, has already been discussed with the Canadians during these negotiations, so I think we can now say: CETA is going to happen," Halver added.
Canada called the announcement a "positive development", a cautious welcome echoed by European Council President Donald Tusk, who chairs EU leaders' summits.
But both stopped short of declaring the Comprehensive Economic and Trade Agreement (CETA), a done deal.
All 28 EU governments back CETA, which supporters say could increase trade by 20 percent, but Belgium had been prevented from giving its consent because of objections led by its French-speaking Wallonia region.
Failure to strike a deal with such a like-minded country as Canada would have called into question the EU's ability to forge other deals and damage credibility already battered by Britain's vote to leave the bloc and disputes over the migration crisis.
Halver said the DAX welcomed the move.
"Certainly, the stock exchange is extremely relieved, because the impression was that Europeans were showing themselves to be unable to come to agreements, but now that is no longer the case. After lots of haggling we have managed it. I hope that further trade agreements, for example TTIP in the USA, won't take so long," he said.
"I expect that CETA will work. The Canadians want it to work because they too are having problems with trade agreements with the USA. And if both sides, the Canadians and the Europeans, want CETA to happen then I think it will go through," he added. - Copyright Holder: REUTERS
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