This is the second round of elections after the Greek Parliament, the finance ministers of the euro area first Greek caretaker government Finance Minister Barzani Elias gave a presentation on the financial situation of Greece, said the new government will continue to work to stay in the EU and the euro zone . Euro Group Chairman Juncker said the euro group hopes Greece's new government as soon as possible to invite the European Union, the IMF and" /> Eurozone finance ministers to talk about the long and short term worries - Financial Freedom - Finances/Money - Article - unite Directory-Free of the excellent site collected by artificially editor. Website directory, and provides site classification catalogues retrieval, is the webmaster free promotional powerful platform website.
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Eurozone finance ministers to talk about the long and short term worries

:2012-06-25 22:06:58Source::UniteDirectory  [Submit Article]  [Submit Link]

  Euro zone finance ministers concluded in Luxembourg on 21 and focused on the plight of the Greek debt, the Spanish banking crisis "near future", and the troubled euro zone and the EU's economic, financial and fiscal integration "long and short term.
This is the second round of elections after the Greek Parliament, the finance ministers of the euro area first Greek caretaker government Finance Minister Barzani Elias gave a presentation on the financial situation of Greece, said the new government will continue to work to stay in the EU and the euro zone . President of Euro Group Juncker said the euro group hopes Greece's new government as soon as possible to invite the EU, IMF and European Central Bank, "Troika" to return to Athens on the current situation and the implementation of the rescue plan negotiations.
Juncker added that the "troika" of the current situation with the Greek government signed a new Memorandum of Understanding, the European Financial Stability Facility (EFSF) will be issued before the end of June, the last one billion euros in the first batch of bailout funds, including will be used to pay for the Greek government should pay the capital of the European stability mechanism (ESM).
Before the meeting, Moscovici, the French finance minister, said: "I am pleased the Greek people to select a pro-euro government, which means that they will continue to abide by previous commitments, we must also care about the feelings of the Greek people, and to take measures to Greece return to growth. "
The issue of Spanish bank bailout, the Treasury Secretary did not provide details of market expectations. Juncker said at a news conference, Minister of the Spanish economy and competitiveness Dejinduosi briefed the meeting on the banking industry of the latest test results, expected funding needs of the country's recapitalization of the banks € 51 billion to 62 billion euros. This is a "top-down" test, even after the "bottom-up" test, the preliminary results will be announced before the end of July, the official results until the end of September.
Juncker said that the Memorandum of Understanding negotiations with the EU after the end of the specific amount of aid Spain to be known before the commencement of European stability mechanism, the relief will be the first European financial stability tools. The IMF will also provide technical support and regular inspection. He expects the Spanish government will aid application on the 25th of this month.
Regling, president of the European financial stability tool, said at a news conference, the preparatory work of the European stability mechanism has been basically completed, many issues of principle and technical details have been finalized, is expected to European stability mechanism will be held on July 9, the euro area came into effect before the meeting of finance ministers.
In addition to pressing issues such as Greece and Spain, the Finance Ministers' Meeting also discussed the long-term challenges facing Europe. Made a special trip to the participants of the International Monetary Fund president Christine Lagarde, said during the meeting, the euro crisis has reached a critical stage, having taken a lot of response measures, but the "vicious cycle" of sovereign debt with the bank is still very serious. The euro zone needs firmly forward to the Economic and Monetary Union, in particular the establishment of banking alliance and strengthen financial integration.
Lagarde four recent measures and three long-term planning proposals for the euro zone, including the recent measures including the establishment of a strong, full of the financial industry alliances; Union will be established in the euro area banking sector as a priority task; further promote financial one , including the strengthening of risk-sharing mechanism under the supervision of the introduction of limited common bond; adequately supervised conditions. The long-term planning, including the resolution of structural rigidities within the European Union in order to improve long-term growth potential; policies focused on improving competitiveness, especially in the euro area competitiveness; increasing demand in the short term in order to gain time for the long-term structural reforms, including the role of the European Central Bank's functions, such as the further introduction of loose monetary policy.
The European Commission responsible for Economic and Monetary Affairs Commissioner Olli Rehn said the European Commission endorsed the recommendations proposed by Lagarde said. He said that the European Commission to prepare held in the euro area and EU summit scheduled for next week to submit proposals, including the establishment of the Union, of economic and financial sector measures to strengthen supervision.

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