Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-09-05-Speech-3-181"
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"en.20070905.21.3-181"2
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"Mr President, Commissioners, ladies and gentlemen, as you would imagine, it is still too soon to evaluate the recent turbulence in the financial markets. We must await more specific economic data and, as you know, the Council has not met since late July, but I agree with Mr Jean-Claude Juncker, President of the Eurogroup, when he said that for the moment there is no perceptible impact on the growth forecasts in the euro area as a whole.
The European economy has continued to show strong growth based on solid foundations. In fact this year has shown very positive results in terms of reducing budget deficits, stability of the euro, economic growth and employment.
It is against that background that we must view the recent financial turbulence that I mentioned earlier. That is all I have to say on the matter for now. I am sure that the informal meeting of the Ecofin Ministers, to be held on 14 and 15 September, in the Portuguese city of Porto, will, as is customary at those Council meetings, analyse the economic and financial situation of the European Union in greater detail on the basis of much more complete and up-to-date data.
I should also like to assure you that the Portuguese Presidency will continue the work of consolidating a single market for financial services. Also the continuing high investment in convergence of supervisory practices and constant improvement of the prudential framework clearly shows that we have not underestimated the importance of a framework which promotes financial stability.
Finally, in general terms, the Presidency is committed to continuing implementation of the Lisbon Agenda. Implementation of that agenda is the best contribution we can make to strengthening the potential for growth in the European economy and maintaining solid foundations and the Portuguese Presidency remains strongly committed in that field."@en1
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