ITALY: US President Obama welcomes an IMF preliminary agreement for Ukraine and urges Pope Francis to visit the US
Record ID:
838595
ITALY: US President Obama welcomes an IMF preliminary agreement for Ukraine and urges Pope Francis to visit the US
- Title: ITALY: US President Obama welcomes an IMF preliminary agreement for Ukraine and urges Pope Francis to visit the US
- Date: 27th March 2014
- Summary: ROME, ITALY (MARCH 27, 2014) (REUTERS) ITALIAN PRIME MINISTER MATTEO RENZI ARRIVING FOR NEWS CONFERENCE WITH US PRESIDENT BARACK OBAMA NEWS CONFERENCE IN PROGRESS (SOUNDBITE) (English) US PRESIDENT BARACK OBAMA SAYING: "As the prime minister indicated we focused on the situation in Ukraine, something I've been talking about over the last three days. and we continue to see international unity in the face of a violation of international law in Ukraine's territorial integrity. The IMF's announcement today that it reached a preliminary agreement with the Ukraine on a loan programme, is a major step forward. This significant package of support is going to help Ukraine stabilise it's economy and meet the needs of the Ukrainian people over the long term because it provides the prospect for true growth. It will require some structural reforms, but it also means that the Ukraine can go on a path that countries like Poland have been able to embark on and seen incredible growth over the last several years." NEWS CONFERENCE IN PROGRESS FRESCO ON CEILING (SOUNDBITE) (English) US PRESIDENT BARACK OBAMA SAYING: "As far as Europe as a whole, I do think that the old debate about growth versus austerity is a sterile debate. I think you need to have your public finances in order, but you also have to grow and the more you grow the easier it is to get your public finances in order. There are different capacities within Europe and I have said before and I will repeat again that those countries that have substantial surpluses have more room to help boost European-wide demand and that, in turn, will help countries that are still in deficit, that will lift Europe as a whole and that means that everybody is growing." MEDIA AT NEWS CONFERENCE (SOUNDBITE) (English) US PRESIDENT BARACK OBAMA SAYING: "My day started with the great honour of meeting His Holiness Pope Francis. And like people around the world, I have been incredibly moved by his compassion, his message of inclusion. I was grateful to have the opportunity to speak with him about the responsibilities that we all share to care for the least of these, the poor, the excluded and I was extremely moved by his insights about the importance of us all having a moral perspective on world problems and not simply thinking in terms of our own, narrow self interests." NEWS CONFERENCE IN PROGRESS (SOUNDBITE) (English) US PRESIDENT BARACK OBAMA SAYING: "In terms of domestic issues, the two issues that we touched on, other than that I invited and urged him to come visit the United States telling him that people would be overjoyed to see him." MEDIA AT NEWS CONFERENCE (SOUNDBITE) (Italian) ITALIAN PRIME MINISTER MATTEO RENZI SAYING: "Italy has no alibi. Italy cannot think that its own problems and its own opportunities can come from the outside, from Europe or the United States. We have to change ourselves. We are a great country that can change itself by eliminating the oppressive weight of red tape, by reducing political costs, by having the courage to simplify the labour market, by saying to international investors that this is a great place to develop ideas and also business." PHOTOGRAPHERS AT NEWS CONFERENCE OBAMA AND RENZI SHAKING HANDS AND SMILING AT END OF NEWS CONFERENCE
- Embargoed: 11th April 2014 13:00
- Keywords:
- Location: Italy
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- Country: Italy
- Topics: International Relations
- Reuters ID: LVAE3XX9KBCVZIBF0LQ983UIVTF
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- Story Text: US President Barack Obama said on Thursday (March 27) an International Monetary Fund (IMF) preliminary agreement for Ukraine is a major step forward and will help the country stabilise its economy.
Speaking at a news conference in Rome along with Italian Prime Minister Matteo Renzi, Obama said there continues to be international unity over Ukraine.
"As the prime minister indicated we focused on the situation in the Ukraine, something I've been talking about over the last three days, and we continue to see international unity in the face of a violation of international law in Ukraine's territorial integrity."
"IMF's announcement today that it reached a preliminary agreement with the Ukraine on a loan programme, is a major step forward. This significant package of support is going to help Ukraine stabilise it's economy and meet the needs of the Ukrainian people over the long term because it provides the prospect for true growth," the US President said.
"It will require some structural reforms, but it also means the Ukraine can go on a path that countries like Poland have been able to embark on and have seen incredible growth over the last several years" he said.
The IMF has agreed a $US14 billion-18 billion dollar two-year bailout for Ukraine, a deal to help it recover from months of turmoil that will also unlock further credits making a total of $US27 billion dollars.
The agreement, announced on Thursday, is intended to help the heavily indebted ex-Soviet republic stabilise its economy after three months of protests that resulted in the overthrow of pro-Russian President Viktor Yanukovich and prompted Russia to annex Ukraine's Crimea region.
Obama urged the US Congress to move quickly to approve assistance for Ukraine.
The US President also took note of the fragile nature of European economies, saying those capitals with budget surpluses should help lift demand in Europe as a way to boost the European economy overall.
"As far as Europe as a whole, I do think that the old debate about growth versus austerity is a sterile debate" Obama said.
"I think you need to have your public finances in order, but you also need to grow and the more you grow the easier it is to get your public finances in order. There are different capacities within Europe and I have said before and I repeat again that those countries that have substantial surpluses have more room to help boost European-wide demand and that, in turn, will help countries still in deficit that will lift Europe as a whole and that means everybody is growing" he said.
Earlier in the day President Obama met with Pope Francis at the Vatican and invited him to visit the United States.
"My day started with the great honour of meeting His Holiness Pope Francis. And like people around the world, I have been incredibly moved by his compassion, his message of inclusion," said Obama.
"I was grateful to have the opportunity to speak with him about the responsibilities that we all share to care for the least of these, the poor, the excluded and I was extremely moved by his insights about the importance of us all having a moral perspective on world problems and not simply thinking in terms of our own self interests."
"I invited and urged him to come visit the United States telling him that people would be overjoyed to see him," Obama said with a huge smile.
Obama spent nearly two hours in the Vatican, nearly half of that in private talks with the pope, and also held a separate meeting with Vatican Secretary of State, Cardinal Pietro Parolin.
The US President and the Italian Prime Minister appeared very cordial with each other and Italian Prime Minister once again emphasised the need for Italy to take action and not wait for outside solutions to its problems.
"Italy has no alibi. Italy cannot think that its own problems and its own opportunities can come from the outside, from Europe or the United States. We have to change ourselves," said Renzi.
"We are a great country that can change itself by eliminating the oppressive weight of red tape, by reducing political costs, by having the courage to simplify the labour market, by saying to international investors that this is a great place to develop ideas and also business," Renzi added.
After the press conference Obama was due to visit the Colosseum at sunset before spending the evening in Rome and leaving on Friday morning (March 28). - Copyright Holder: REUTERS
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