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No quid without pro quo for German economy minister

Wednesday, August 15, 2012 - 02:28

Aug. 15 - We need a strong Europe and a strong currency, but it has to be give and take, and reforms and budget discipline have to be the focus, says Germany's Economy Minister Philipp Roesler. Rough Cut (no reporter narration).

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If -- exit art here to keep ECB president Draghi has emphasized that bond buying can never replace structural reforms and budget discipline. And we certainly take him at his word on this this is the right way. The only way to get out of difficulties is budget discipline and structural reforms aimed at increasing competitiveness. And that applies to all European countries and I don't know if it's. And it. Because -- we've got the public minds and -- it up. Festival we shall wait for the troika report them. Furthermore all of us have determined even beyond the eurozone and in the fiscal pact for example of how important budgetary discipline and performance on. And that the house to be a quid pro -- this also is valid for the issue of reforms we all convinced that we need a strong Europe with a strong common currency them. But that currency should not failed because of a lack of reforms in some member states I think we can stop it. It won't let typing in an adequate to. And it's over you need to focus on three things in energy policy. A -- a secure and an affordable supply of energy and we need to work on the affordability. We have to look at -- renewable energy legislation. We want renewable energy you want to expand renewable energy. But this expansion Castro remain affordable. Which means we need a more efficient system than we have now so we need to have a whole art subsidies for new polls. It. But you know for my totals Khamese whoever makes -- -- was we will publish our growth prediction for the year 2012 and 2013 according to Shaquille. We are certain that we have a robust well functioning chairman economy. But we also have some uncertainty if the stemming from the uncertainty across the eurozone. Not -- says that the main quest of economic policy makers is to stabilize the eurozone to ensure good economic performance in our country. But the same time and we have to do everything to improve the competitiveness of the German Economy. That means we should lower pension contributions. We have to look at the issues of sourcing and skilled workers if -- how we will succeed just ensuring energy remains affordable fraud German Economy. To ensure not only growth but also -- employment side.

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No quid without pro quo for German economy minister

Wednesday, August 15, 2012 - 02:28