Last quote by Pierre Moscovici
Pierre Moscovici quotes
Brexit, respectable but regrettable. It's a wake-up call for us. We need to co-operate more because union is the best way to co-operate for our member states. Second, of course Europe will be there, and I can tell Joe Stiglitz, that hopefully, Euro will also be there. But we need to do what's necessary for it to be capable of creating convergence between our economies.
I'm not worried, I think this idea that Brexit is going to be contagious is a fantasy, a bad fantasy.
We have the capacity to deal with the situation and it will be dealt with from both in Italy and at the European level.
I am confident there will be no such crisis. We have the means to resist any kind of political shock in Europe.
I'm very confident in the capacity of the eurozone to resist all kind of shocks.
Populism is not inevitable. The extreme right is not irresistible.
The discussions continue, the positions are getting closer, but there is still work to be done.
We are not considering a fourth programme. We are in the third programme and three is a lot. What we would like is that programme to be a success so that there is an exit from the programme. That is clearly our target.
What I hope is that, trying to find a compromise and in the spirit of progress for Greece and for the eurozone, we can reach a staff level agreement before the end of this week so that we can have a successful Eurogroup on December 5, opening the way to what I am looking for – a package deal, a global agreement.
We consider that the figures don't adapt when we look at the structural effort required by the EU Council. We are very conscious, and the EU council also, that Italy is on the frontline to welcome refugees and has to be taken into account, than we have to examine the figures.
We are proposing a system which can simultaneously support business, attract investors, promote growth and stop large-scale tax avoidance.
If we have the second review completed, then before the end of the year it would mean the Greeks have met their responsibilities and the euro zone must also take their responsibilities and be available for a discussion on debt.
This should normally open the way to the disbursement of the remaining 2.8 billion euros. As often in the Greek issue, things are done a bit at the last minute, but they are done.
All remaining milestones have been completed.
One could have wished to see more progress than we have? but what I state is that we have seen in recent days an intensification of efforts by the Greek authorities.
I will relaunch this semester a plan for a CCCTB (Common Consolidated Corporate Tax Base).
That doesn't mean that everything is done. We still have a way to go and there are discussions taking place and the need to complete some milestones for the first review and also to discuss the so-called second review.
It's a good signal that the process (can) accelerate, that we have a new prime minister (in the U.K). Because as I said, there can be a negative impact of Brexit economically. Volatility is bad for all of us. The impact on the real economy can be substantial - and I'm not talking just about the markets - and it can also be reduced. It really depends on us.
We expect the increased uncertainty to reduce U.K. GDP by 1 to 2.5 percentage points by 2017 compared to the baseline scenario of remaining (in the EU). In the 27 EU member states and in the euro area the impact could be between 0.2 and 0.5 percentage points.
Those financial consequences could be equal to zero, because we have also to take into account the fact that these countries have suffered of very severe economic crisis and that they are now recovering.
It's a very sad moment for those who love Europe, but it's also a moment to reinvent the economic project.
It is certainly a new start for Great Britain, because the U.K. chose another future than being in the EU. We'll have to define a new special relationship with the U.K., and we'll have to negotiate the way the Brexit happens.
It's really about shared interests, for the British and for the Europeans, that we don't work on another scenario. After we will see what happens the day after.
The Greek authorities have done 95 per cent of changes necessary but not all is finalised. Some changes have to be made in the coming hours.
I am confident Athens will use the time before the Eurogroup to finalise the limited issues that are still open.
We have no plan B for Brexit. The mood around the table (at G7) is that our partners want Britain to remain in Europe.
We also take into account, and i think nobody should blame us for that, the fact that these (Spain & Portugal) are two countries that have suffered the crisis with full force, which still have very extremely high levels of unemployment and which have made significant reform efforts.
It is nearly impossible to construct fiscal rules that satisfy everyone at any time and any situation.
European growth is holding up and (that) means that the efforts being made are paying off.
I can tell you that there was very good progress in Athens. In my view, we are close to an agreement.
Good progress has been made in recent ... days and more still needs to be done to reach a point where we could conclude the review (of the Greek reforms).
The political will to find an agreement is there on all sides. We need to have all the reforms ... legislated in a credible manner.
The memorandum of understanding (with Greece) does not speak about decades. The MoU speaks about 2018 and what we want to meet is 3.5 percent in 2018.
Our forecasts are built on the assumption of no policy change and for the UK we know what no policy change means of course so we are not going to comment … especially not on this issue.
It is a lot of crises, but these are European problems, but they are also international. The idea that you could find national solutions to these problems which are international is a lie. If there was a vote for Great Britain to leave the EU, it will be an inversion of the historic dynamic of the past years which has seen more countries join the bloc.
No, no and no, there is no plan 'B'. It doesn't help us in any way to envisage disaster scenarios.
The day we start talking about a plan 'B' is the day we no longer believe in our plan 'A'. I have just one plan. The United Kingdom in a united Europe.
For me, it is prudent not to go campaign and try to impose a choice on a sovereign people. Referendums are dangerous, especially for Europe.
It will not be easy for Mr. Johnson to end up next to Nigel Farage and some other clowns and populists.
Every year we lose between 50 and 70 billion euros through tax avoidance. This is unacceptable and we are acting to tackle it. These measures will impose on multinational corporations the same tax rate and the same rules as for other businesses operating within the EU.
No, Europe is now in a clear sound robust recovery. The problem is that this recovery is at first – sluggish. And second, unequal. It is unequal between the Eurozone and non euro area member states.
I was never the 'What If' guy. The ECB is there for long lasting policy. Some fears must be based on risks – but there is no risk there. It's not because the recovery is there that we need to slow down the reforms especially the labour market. It is not only about the pensions system.
I am confident that the quantitative easing programme will last as long as necessary so I am not worried about any kind of interruption but monetary policy is not everything. We need to have a multi-function policy first, fiscal consolidation has to continue. Secondly, it's about structural reforms, third is investment and fourth is monetary policy. If we've got those 4 pillars then we have strong assets for growth.
I would say of course China is in a period of transition. In our forecast for 2015 I see no effect and in 2016 probably China will be mentioned as a downside risk but it won't be of high importance. And we feel that the global economy needs to watch China, that there needs to be structural reforms there – they need to communicate better. But it is no worry for the European economy I would say globally.
The Euro area had to adapt more during the crisis because the rules are tighter.When you look at the growth forecast that was last delivered a few months ago, we are going to deliver the next ones at the beginning of November – the gap is only 0.2% or 0.3% – and it was double in the last number of years.
In the name of the European Commission, what I'm going to do is firstly to present an analysis of the financial risks for the eurozone. Secondly an analysis of the sustainability of Greek debt, then thirdly the needs which are very important to satisfy this programme. And that's the basis on which the ministers will have to make their decision.
We will keep on working. The meeting was suspended but we will continue to try to find an agreement, it's still possible and – more than ever -necessary. We still want Greece to stay in the euro, in best conditions, with strong reforms and a sustainable future.
I hope that by the next Eurogroup on the 11th of May we are able to say 'yes'. There is progress strong progress and we are on the right track.
It is really time to reestablish fiscal fairness so that businesses pay what they owe to the public purse….their fair share in the right place.
These two years are essential. Reforms will be vital if competitiveness is to improve. We've seen that competitiveness is getting back on track albeit slowly and that the trade deficit remains huge.
There is of course still much hard work ahead to deliver the jobs and the investment the european union and the euro area need – that's why all actors in europe need to use all available tools to strenghten our economic fundamentals.
We have common goals; ensuring that Greece as a nation can stand on its own two feet, clean up its finances, and become a jobs generator again. A Greece that is growing, and can pay its debts.
If we succeed in closing the review which I hope, I will work for with the teams of the Commission, by the end of February next year, the troika will leave Greece. And we will move to another phase.
The problem is not to meet financial needs. That is not the key for us the key is in the reforms that need to be led.
The time has not come to talk about that. I think it would be a mistake to do so. But of course Ukraine is a country which is strong partner to Europe which is very close to Europe and we will see in the future what are the forms that this partnership.
Now that the Eurozone and Europe in general have restored stability our big challenge is to add some energy to the economy, to build a central spine of growth and job creation, and the main way of doing that we feel is through investment.
I am not in favour of undoing or re-doing the agreement we finance ministers made on the 18th of December. But I am in favour of improving it, given that the EUropean Parliament has raised a number of questions that in my view could increase the effectiveness of the mechanism.
Has two objectives: stimulate growth and boost jobs.
This is a budget, which focuses all its energy in one direction, that is to make France more competitive, to create French jobs and encourage innovation. We have also cut public spending.
Of course, there is still more progress to be made, especially in reforming the public sector. We will ask Greece to make the necessary efforts, take crucial decisions. I think the basis is there for a political agreement later.
Taxation is an important point because today the citizens can't stand some behaviours of fiscal evasion, because also we [governments] need some money in order to reduce our deficits. It's a question of ethics, as well as a question of economic interest.
I welcome Commissioner Rehn's intention to make this proof of flexibility. To give time and to take action in a way which means we keep the focus on growth. We have to be serious, that's what we want but we reject austerity.
There was a feeling, perhaps, that we were breaking a taboo. That's why members of the Eurogroup held a tele-conference yesterday to say that we are ready to consider a progressive tax, if the Cypriot government and parliament decides that deposits of less than 100,000 euros are exempt.
I hope that Mr Bersani will be able to form a government that will be a friendly counterpart for us and which is committed to European construction.
The economic context is now of a globalised world where there are more investment and capital flows and where new forms of business are developing especially in the digital economy. We must ensure that this new form of business also pays its fair share and therefore we must avoid situations in which some companies use international and domestic law to be taxed nowhere.
It's started its recovery. That's what I think. I am really, really convinced that it has a future in Europe and that PSA Peugeot Citroën has unique characteristics and qualities.
The euro's level is not a negligible matter for growth.
Even if there must be no pressure on the European Central Bank, discussing among Europeans what might constitute a fair level for our currency and how to get there is legitimate, and it is also legitimate among other big countries and economic zones, at the G20.
This is a signal to the rest of the world: we can trust Europe, we can trust the eurozone. It is an area with great potential and in which we can invest, in which we can trust. The year 2012 ends under good auspices for the eurozone and I am happy about that.
This debt buyback is very important in the context of last week's deal, I am very hopeful that it will be a success.
We have all the possibilities on the table. Consensus is within reach if we are capable of seizing it. If everyone is reasonable, we can do it quite quickly.
This downgrade does not raise a question-mark over the fundamental economics of our country, nor the reforms undertaken by the government, nor our good reputation for borrowing.
You know, it was the Americans who have chosen their President not the French, but one can't help being happy because, yes, it's true, we like Obama. We share many priorities with him. The future of the eurozone matters for Barack Obama, the growth of the eurozone matters for Barack Obama. Things work very well with him. Now he has 4 more years and we have still 4 years and during these 4 years we will work together very well.
I hope you saw the President's acceptance speech… because the message is that we are one nation, we have a tradition of politics that can sometimes make us appear divided. We are one nation and we gonna work together over the next 4 years of the President's mandate.
This entire budget has been designed so that those who have the most contribute more without penalising their ability to invest in the future.
This measure will also give us time to find a more permanent solution which is what the the president and the prime minister want.
We do not maintain a deficit target of 3.0 percent in 2013 for the sake of it: cutting debt is imperative to maintain our sovereignty and the control of our destiny.
The measures to take should be the least expensive for our public finances.
Our common strategy for the stability of the euro area includes the adoption, by the end of this year, of a single supervisory mechanism for banks of the euro area, involving the ECB.
Since last month's summit I think Europe has taken a different path. What President Francois Hollande described as a reorientation and stabilisation of European construction. It is our role now to ensure that works.
We are in an extremely difficult economic and financial situation. In 2012 and 2013, the effort will be particularly large. The wealthiest households and big companies will have to contribute.
If the Spanish government wishes at any point – and it's Spain's sovereign decision – we have instruments of solidarity in the eurozone which can be mobilised very quickly.
This is a totally unacceptable process and is blatant nepotism by the Sarkozy family. It's a completely un-republican way of doing things.
I have a hard time believing that a minister and an experienced one could have been duped in that matter. So I ask Luc Chatel to investigate what really happened, because behind this there is not only a store chain, there is also a political party, his party – the UMP.
The assembly will not be signing a blank cheque, will hold off on the last word, will say that as things stand the treaty will be signed but that right up to 2007 the parliament will be a major player in the procedure.