Arab Today, arab today eus new economic chief moscovici vows change
Last Updated : GMT 15:26:23
Arab Today, arab today
Arab Today, arab today

EU's new economic chief Moscovici vows 'change'

Arab Today, arab today

Arab Today, arab today EU's new economic chief Moscovici vows 'change'

Customs Pierre Moscovici (R)
Brussels - AFP

The EU's new top team must be a "commission of change" in order to boost the stalling economy, the bloc's economics chief Pierre Moscovici told AFP in an interview, signalling a departure from years of austerity.
The former French finance minister, who in just a few days time must decide whether to order Paris and Rome to cut back on spending, said he did not see his job as being a "budget supervisor."
In his first interview since taking office, Moscovici added that Jean-Claude Juncker's new European Commission had to balance strict budgets with the need to invest to create jobs and growth.
"This commission must be a commission of change," Moscovici told AFP at the Berlaymont building, the European Commission's huge glass-and-steel headquarters in Brussels.
He insisted he would not give any special treatment to France, which last month submitted a budget plan with a deficit way over the tight EU limit of 3.0 percent, putting the country at risk of Brussels demanding more action.
"It's difficult for a Frenchman. I'm not a masochist," he said.
Moscovici, whose appointment raised eyebrows because of his own record presiding over the French deficit, compared his approach with his Finnish predecessor Olli Rehn, known as a strict fiscal disciplinarian.
"It's not about abandoning a strict budget, it's not about abandoning the rules.
"But it's about adding a strict budget as an element of stability in a dynamic economy which is lacking from the EU, and which is vital if we don't want the EU to be in the doldrums with low growth, low inflation and high unemployment."
- Key investment plan -
On his second day in the job on Tuesday, Moscovici found himself unveiling a grim set of EU economic forecasts which slashed growth in the eurozone, raising global fears just two years after a nearly catastrophic debt crisis.
Moscovici underscored the importance of a 300-billion-euro ($380 billion) investment plan that Juncker has vowed to unveil at a summit of European leaders before Christmas.
Juncker has given no details about the plan, but Moscovici said it should be the "cornerstone" on which the new commission is built and that the funds should be new.
"It must be new money, not necessarily fresh, but new, extra. If it is not, it will look like a trick, recycling, or it will be a flop," Moscovici said.
He said it should also include a mixture of public and private funding.
Moscovici said his first trip abroad in the new job would be to bailed-out Greece and Cyprus, amid concerns over a plan by Athens to leave its international assistance scheme at the end of the year.
"I will go to Greece in November because it is necessary to offer these countries opportunities," he said. "Not without rules, not without discipline, not without effort, but opportunities, little by little, because we are in another phase, the priorities are different.
He said the "idea of a credit line was in the air, the idea of a backup programme", but would not give further details.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eus new economic chief moscovici vows change Arab Today, arab today eus new economic chief moscovici vows change

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today As Olympics loom,China plunges into biz

GMT 10:08 2017 Tuesday ,28 February

As Olympics loom,China plunges into biz
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Kalam Nawaem made a difference in social issues

GMT 06:43 2017 Tuesday ,28 February

Kalam Nawaem made a difference in social issues
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Parliament considers solutions to overpopulation

GMT 20:27 2017 Monday ,27 February

Parliament considers solutions to overpopulation
Arab Today, arab today Humans spark most US wildfires

GMT 14:58 2017 Tuesday ,28 February

Humans spark most US wildfires
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Final Phantom VII signals end of an era

GMT 14:31 2017 Tuesday ,28 February

Final Phantom VII signals end of an era
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Aspires present the story of Egypt’s first president

GMT 06:18 2017 Sunday ,26 February

Aspires present the story of Egypt’s first president
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:28 2017 Tuesday ,28 February

Dumbphones survive rise of the smartphone

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday