Joaquin Almunia

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Last quote by Joaquin Almunia

Microsoft was investigated for 16 years, which is four times as much as the Google investigation has taken, and there are more problems with Google than there were with Microsoft.feedback
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Nov 24 2014 Microsoft
Joaquin Almunia has been quoted 40 times. The two most recent articles where Joaquin Almunia has been quoted are EU Commission hits three more banks for LIBOR scandal and EU takes aim at Apple, Starbucks tax deals. Most recently, Joaquin Almunia was quoted as having said, “Both decisions are based on a settlement with the banks, who recognised their involvement and in exchange received a reduction of 10 percent of their respective fines. This allowed the Commission to conclude the investigations through a quicker procedure. The fines are based, in particular, on the value of sales of the relevant products and the duration of the infringements.”.
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Joaquin Almunia quotes

Feb 01 2012 - European economy

These markets are at the heart of the financial system, and it is crucial for the whole European economy that they remain competitive. We tried to find a solution, but the remedies offered fell far short of resolving the concerns.feedback

Nov 09 2010

Had it not been for the Commission's intervention, the cartel would not have ended in 2006 and, more than likely, it would have continued through the economic downturn creating more harm to companies and consumers.feedback

Jul 14 2010

This positive decision is good news for the airlines, and more importantly, this is good news for the passengers who will benefit from a broader choice of flights and will continue to enjoy the benefits of competition.feedback

Nov 03 2009

We are optimistic, but we see in 2010/2011 only a gradual recovery. We need to take into account, among these constraints, the deleveraging process in companies and households, a further deterioration in the labour market that is suspected in 2010 and the adverse impact of the financial crisis in potential growth.feedback

Sep 02 2009

I think the exit strategy from this crisis should be coordinated, first of all at the European level, and of course at the global level. We will discuss this at the G20 meeting in London.feedback

May 04 2009

Some positive signals have appeared in the last weeks, improvement of the evolution of the financial markets, improvement in business expectations and some real indicators as, for instance, export data in Asia.feedback

May 04 2009

We are no longer in free fall.feedback

Jan 20 2009 - PSOE

The ministers agreed with the Czech presidency and the Commission about the need to combine the use of fiscal policy as an instrument of stimulus in this situation of negative growth and lack of demand with medium- to long-term perspective of sustainable public finances.feedback

Nov 03 2008

The situation in the markets remains precarious and the crisis is not yet over. This means weaker growth, the crisis is aggravating macro-economic imbalances in several countries. On the positive side, inflationary pressures are easing, but this easing of inflationary pressures – including the evolution of oil prices – to some extent also reflects a significant weaker demand.feedback

Oct 09 2008 - PSOE

At this stage it is essential to undertake a recapitalisation of the financial institutions, to allow those entities that have enough capital to resume their normal credit operations. It is also essential to create confidence among financial institutions, to put the inter-banking market back on track. Restoring confidence will lead to normalisation.feedback

Oct 09 2008 - PSOE

There are proposals for coordinated action between European governments to create funds at national level, and we discussed them in the last Ecofin council. But, nobody has talked about a European fund.feedback

Oct 09 2008 - PSOE

There's a deep lack of confidence amongst financial institutions, because of a lack of transparency. And every financial institution fears that the other banks that want to borrow their money are in a worse situation than themselves. Financial markets are built on confidence.feedback

Oct 09 2008 - PSOE

What we don't need is for the logic of financial activities to lose contact with reality, lose perception of the risks and forget what actually brings in capital to allow such operations.feedback

Oct 09 2008 - Single market

Let's be clear. We have to be realistic it's no time for utopia. Each country allotting public or private resources is the most realistic proposal. If it's co-ordinated it will increase the confidence among financial institutions that operate in a single market like the inter-banking one.feedback

Oct 09 2008 - PSOE

There are enough instruments in place to avoid any financial institutions falling into a crisis like the Lehman Brothers in the USA. In Europe, we don't want that scenario and and there won't be a Lehman Brothers case. There won't be a bank which will go bankrupt or disappear. That won't happen.feedback

Oct 09 2008 - PSOE

There was a very low estimation of the real risks that pushed many investors to take chances beyond any reasonable level, because of the low level of interest rates before 2007. At this stage in the crisis the measures adopted by the central banks are supposed to relieve the market and ease the difficulties felt by the principal players.feedback

Oct 09 2008 - PSOE

Some people have interpreted the proposal made by the Netherlands and other governments as an attempt to create a centralised fund here in Brussels. But nobody made a proposal as such.feedback

Oct 09 2008 - PSOE

Nobody will lose their savings, really. There are some financial institutions that have a few problems, but thanks to public money or to the take over of public and private institutions nobody has lost their deposit.feedback

Oct 07 2008 - IMF

Global challenges require global solutions. The situation of the financial markets requires an EU response, and building on this response a global approach, that I hope in the coming days we will be able to discuss – with positive results also – with our partners at the G7 and IMF meetings.feedback

Sep 10 2008

The way the European economies will start 2009 – according to this forecast – will not be very good. This profile in 2008, I hope, will be compensated by a positive profile in 2009.feedback

Jun 03 2008

(…There's) an oil price revolution, and a food price revolution, so we will try to find a good answer. We have to discuss this at a multi-lateral level. I hope the next G8 summit will consider this issue.feedback

Apr 30 2008

These inflationary risks will have extremely high social consequences, both within the EU and the euro area, and it is the poorest and the weakest sectors of our societies that are suffering most.feedback

Nov 09 2007 - Portugal

This is mainly due to the impact of tighter financing conditions and reduced confidence in the aftermath of the financial market turmoil that started last August.feedback

Nov 09 2007 - Portugal

Thanks to strong world growth and solid economic fundamentals, the negative impact should be limited.feedback

Sep 11 2007

The Euro area and the European economies are solid but the impact of the recent turmoil on the financial markets that indeed has created increased uncertainty and tighter financing conditions.feedback

May 07 2007

The forecast that I am presenting today is a upward revision of growth since our last interim forecast in February, up by 0.2%, and a half point of GDP upward revision if you compare this forecast with the Autumn 2006 forecast.feedback

Nov 06 2006

GDP growth has accelerated strongly in 2006, driven by very strong investment and if you compare these figures with our previous forecast in the spring, they have been increased upwards by half a percentage point.feedback

Sep 06 2006

This acceleration of growth reflects a greater ability of the European economies, and in particular of the euro area economies, to rely on domestic demand, and an increased resilience of the European economies considering the increase we have had in oil prices.feedback

Jan 11 2006

After the inclusion of UK in this group of countries in excessive deficit, we have now 12 member states in excessive deficit; Six are new member states, six are old member States, and five of them are in the euro zone.feedback

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