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Αρχική arrow newsitems arrow Mnuchin US Interest Rate move Natural, says French Finance Minister Sapin to EF, at G20

Mnuchin US Interest Rate move Natural, says French Finance Minister Sapin to EF, at G20

Έχει γραφτεί από ACM
Friday, 17 March 2017
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*Baden-Baden/G20/Angelo Marcopolo/- French Minister of Finance, Michel Sapin, speaking to "Eurofora" during a G20 Finance Summit, backed US Interest rates latest move :

 

- USA Authorities recent decision to Rise Interest Rates "corresponds to the situation inside America", said the French Finance Minister, Michel Sapin, in Reply to relevant "Eurofora" Question.


 - As a matter of General Principle, "Central Banks' Decisions are Taken in relation with the situation of a Country, and of the Monetary Mass that they have to manage", he added.


 - Thus, given also the Fact that, inter alia, US has Now more "Growth", that Latest Move looks Justified, and does Not have any notable International Economy after-thought, Sapin said, apparently accrediting recent News about a so-called "Trump Boom" towards Higher Employment and Growth in North America.


+ But it's also the Recent ECB's Decisions which were also justified, went on to say the French Minister, apparently pointing at Nearby Frankfurt's Discussions about €uro's Higher price and Interest Rates' policies that might be considered by ECB's Chief, Mario Dragi (also Present here at Baden-Baden, and very Busy-looking).


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++ At another Global interest development, Sapin also Downplayed previous concerns about an eventual China - US clash on Trade and/or Monetary issues :  - "No", at least currently, "there is Not much about it, and it doesn't seem to be a real problem, he dismissed, in furher remarks to "Eurofora".


The French Minister was speaking on the sidelines of the G20 Meeting of Ministers of Finance which has just Started at Baden Baden in Germany, hosted by his collegue, Wolfgang Schauble, and extends Tomorrow, Saturday.


Earlier Today, Sapin had kick-Started his Bilateral meetings, at a nearby Hotel, with his New US counterpart, Steven Mnuhin, who had also met earlier with Schauble.


However, the current US Federal Reserve's Governors' Chair, Mrs Janet Yellen, (still in office at this G20 Finance meeting also of Central Banks' Governors), had been already apointed during the previous, Obama Administration, (2011 + 2014), for a mandate ending on Januay 2018.


Mnuchin's Family is said to stem from Russia, settling to the US since the very Beginning of the 20th Century, with his Grand-Father reportedly havin lived also in Belgium, long before Brussels becomes the nowadays Headquarters of EU Commission and Council, as well as NATO.

 

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Meanwhile, OECD's latest "Economic Policy Reforms" update, Focusing on "Going for Growth 2017", presented here, Earlier Today, by its Head, Angel Guria, (Comp. numerous Guria Statements to "Eurofora" on various Topical Issues, during many years, f.ex. at..., etc), together with Wolfgang Schauble, point at a Need for the US to Invest in "Public Infrastructures", almost as New US President Don Trump has notoriously promised during his succesful Electoral Campaign.


By intelligently Designing also Better Transport Facilities, such a move may even contribute to an Amelioration of Natural Environment, OECD's latest Report says.


As for the EU, OECD's latest recomendations focus also on a much-needed Amelioration of European Networks, (including in Energy, Transport links, and various other Sectors), almost as also EU Commisioner previousl for Energy, afterwards for Digital Economy, and curently on Budgets, Gunther Oettering, (also from nearby "Black Forest" area, as Schauble : Both ChristianDemocrats with Chancelor Angie Merkel), had already urged Earlier.

 

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    EU Rapporteur on Enlargment Strategy, maistream German MEP Elmar Brok, speaking to "EuroFora", welcomed the proposal made earlier this week by French President Nicolas Sarkozy for the EU to"start Now Talks with Turkey to create a common Economic and Security area", instead of full Accession, at a period when Ankara looks more and more unfit and/or unwilling to respect EU conditions.

    - "For Europe to have strong Political will, it must stop dilutiing itself in an endless Enlargement. It must have borders...Diversities enrich, on the condition that they don't undermine European Cohesion, and don't weaken EU Unity", Sarkozy stressed.
    
    - "Countries like Turkey share a part of common destiny with Europe, with which they have a vocation to build a Privileged Relation, to be closely associated, but not to become Member of the EU"  : "Noone respects his friends by telling them lies. Noone respects his friends by making them promises that will be never kept", he added.

    That's why "we'd better start, from now, negotiating with Turkey to create a common Economic and Security area", Sarkozy proposed.

Significantly, the French President was repeatedly and largely applauded by EU citizens, 3 times, when he made the Turkey point, (strategically placed between Europe's "Political Will" and its cultural heritage, historically open to mutually enriching dialogue with all the World, but never diluted).

    - "We could propose such a great ambition also to Russia, which must not be percieved as an Adversary of Europe, but as a Partner. Thus, we'd create a wide area, of more than 800 Million inhabitants, sharing the same Security, the same Prosperity", he concluded.

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    Sarkozy's move was anounced at the eve of a Franco-German Top meeting with Chancellor Angie Merkel in Berlin on Sunday, to jointly launch the EU Elections campain, after an EU Summit at nearby Prague, to launch a new kind of relations, called "Eastern Partnership", with neighboring countries such as Urkaine, Belarus, Moldova, Georgia, Armenia, Azerbaidjan, etc, (to which Russia, reportedly, is not - and does not want to be - included).

    As for Ukraine, which has already expressed her wish to join the EU in future, "Kiev will have a special place, and a very important role to play", replied earlier this week in Strasbourg, to an "EuroFora" question EU Chairman in office , Czech vice-Prime Minister Alexander Vodra.

    - "This direction is more Realistic for Turkey than Accession negotiations", reacted immediately EU Parliament's Rapporteur for Enlargment Strategy, mainstream German MEP Elmar Brok, commenting Sarkozy's idea for "EuroFora"

     Particularly "as far as it concerns the respect of EU Rules by both sides", he added, hinting at Turkey's now obvious inability and/or unwillingness to abide with EU Acquis, EU Commitments (fex. on Cyprus, etc), and European Democracy/Human Rights rules. (Comp. infra).

    Brok added that, in his view, a similar proposal might be made also to Ukraine and other neighbouring Countries, regardless if they have, or not, a "European vocation". This would not necessarily mean that there couldn't be any accession prospects at all." for all the countries that might be included in this area, according to Brok.  But it's preferable, particularly for Turkey, "because it's a more Realistic approach than full Membership".

    On this point, Sarkozy's proposal, (which he'll share with German Chancellor Merkel), seems more crystal-clear.

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    - "Turkey does not fullfil EU Criteria, and will never fullfil EU Criteria" on Human Rights, Democracy and Rule of Law. "Some have been lying to Ankara, but we must tell the Truth, and have honest and close relations with her", said meanwhile to "EuroFora" on the same issue also the President of EU Parliament's largest Group of MEPs (ChristianDemocrats/EPP), Joseph Daul.
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"Hot" Debate at EU Parliament reveals CHANGE of mood towards "Suspension" of EU - Tukey talks.
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    Earlier this week, many MEPs, and even some of those who were previously in favor of Turkey's controversial EU bid, strongly criticized the persistance and even aggravation of serious Human Rights violations in the country, that ECHR continues to "unanimously" condemn ":

      - "After winning a big victory in the latest Local Elections, the pro-Kurdish party DTP almost doubled its Elected Mayors from 52 to 98", but afterwards "more than 400 politicians were thrown to Prison and prosecuted" by the Turkish Authorities, denounced on behalf of the ChristianDemocrat/EPP Group, Belgian MEP Frieda Brepoels.

     At the same time, "more than 1.500 Children are closed in Turkish Prisons", she added. "What will the EU Commission do" against these facts ?

- "Turkey appears to be at greater Distance away from Copenhagen Criteria after 4 Years of accession Negotiations, than when they started !", denounced on behalf of the Liberal Group, German MEP Alexander Lambsdorf.    

"On the central issue of Press Freedom, Critical Journalists face obstacles for their accreditation, others are prosecuted, condemned, fined and/or jailed, Media blocked or closed", he denounced.   

 - "EU Made 2 grave Mistakes with Turkey : To start accession negotiations, and to continue them", despite everything, criticized Dutch MEP Bastian Belder, on behalf of the Ind/Dem group.

(../..)

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