Last quote by Valdis Dombrovskis
Valdis Dombrovskis quotes
This is a major deal that is set to benefit insurers, reinsurers and policy holders on both sides of the Atlantic.
We are in close contact with the Italian authorities and we are ready to discuss different solutions within our legal framework.
As regards the current banking situation in Italy, we are in close contact with the Italian authorities.
It's agreed already in August and the Commission will continue work on this basis.
This proposal will strengthen Europe's financial system further and aims at protecting taxpayers by ensuring we can deal with a central counterparty if it falls into difficulty.
We expect our international partners to stick to globally-agreed standards.
We have put forward new risk reduction proposals that build on the agreed global standards while taking into account the specificities of the European banking sector.
A solution we could not support is one which would weigh unduly on the financing of the broader economy in Europe.
We do not believe a standardized capital floor is an essential part of the framework.
As things stand, the proposals Basel has issued for consultation would imply significant capital requirement increases in all areas.
Some ministers seemed to be in favor of a stabilization mechanism built around an unemployment scheme, others looked more towards investment-based mechanisms.
For various reasons, the windfalls from higher growth and lower interest rates were insufficiently used to reduce deficits and debt.
The economic recovery in Europe continues but the global context is less conducive than it was. Future growth will increasingly depend on the opportunities we create for ourselves.
We need strong economic fundamentals, to deal with different challenges which we are facing with – refugee crisis, with security challenges and also to convince our citizens that there are benefits in the European project, that we are better off together and people start seeing tangible results of an economic recovery also in their pockets.
We already have EU budget and certain policies which ensure fiscal transfers among member states. The five presidents' report actually explicitly mentions that it is not meant to be a new permanent transfer mechanism.
Exactly, the time frame is quite ambitious. So last December the European Council tasked the finance ministers to work intensively on this and to report back to the Council by June this year and If needed are ready to modify our proposals in order to achieve consensus on those issues.
Well on political union, it means strengthening the democratic legitimacy of our decision making as regards economic and fiscal policies. This is one element which has been discussed, often criticised.
Unfortunately since the financial and economical crisis, this process has stalled and this is underlying the motive of completing the Economic and Monetary Union.
Well, stronger involvement of national parliaments actually means stronger sovereignty if you want. It's also worth headlining that it will mean also more common decision making and of course it will imply some sovereignty sharing. And we will need to find the right balance between sovereignty sharing and risk sharing.
In economic terms, it's a much better result both for UK and EU as a whole, it's for the UK to stay within the EU.
Those are meant to be advisory institutions, which are monitoring for example member states' fiscal performance or member states' competitiveness factors and advising the governments. It is still for the governments to take the decisions and still for the parliaments to legislate.
We need to remain very attentive, we cannot be certain that the Portuguese budget plan offers enough reassurance to correct the excessive deficit in 2016 – and government debt is still very high at 130 percent of GDP.
We broadly share the programme objectives and the measures needed to reach the objectives. We know there are some differences on assessments, how much effort is needed to reach the fiscal targets … This is bridgeable.
I think it is relatively unlikely that the European Commission will get a mandate to start formal negotiations as regards a third programme or 'SM' programme today.
We are making progress but there are still some outstanding issues to be resolved.
It is important that the Greek government works seriously on this issue (the implementation of reforms), also in order to ensure financial stability and to counter some of the negative tendencies which we have been seeing over the past couple of weeks or months with some capital outflows.
I think that we need more Europe on big things and less Europe on small things, that Europe should really concentrate on those issues where we can get really clear added value, and being less active on relatively small bureaucratic issues which is the EU is sometimes even too much associated with.
It is quite clear that we have to take necessary steps to avoid tragedies like this one happening again. We are going to take more severe control measures in construction sites of this kind, especially in sites that are currently under construction or the construction is planned to start soon.
Police have started the investigation already. The criminal process will investigate possible construction violations which may have caused serious consequences.
We need to think about energy supply security, about diversification of the sources and of course we need to think also about commercial liability of the project to make sure that this project is competitive.
We yesterday in the government adopted the decision to do another fiscal correction of 500 million lats for 2009 in order to ensure that we continue to receive international financing.