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I suppose it's one of those health check moments that we look to people like to tell us just how strong Europe is. Looking at some of the data the European Economic Commission's sentiment indicator is the highest that it's been since the eve of the crisis. How strong is the recovery in your view in Europe . Well indeed economic recovery in Europe is continuing so we are expecting like over 2 percent growth for this year and next . Unemployment is going down. Employment is at the highest level ever. Both budget deficit and public debt levels are gradually going down. So what we need to focus now basically today we are reconfirming our economic policy priorities of boosting investment supporting structural reforms to strengthen competitiveness and responsible fiscal policies. And we are putting a bigger emphasis to ensure that economic recovery economic growth is inclusive so that the benefits of economic growth reach all citizens. So which countries are you concerned with that is the backdrop President. Which countries are you concerned about. Italian media is reporting that the EU will call on Italy for a budget adjustments of five billion euros in 2018. Is that the case well first of all it's worth noting when we are discussing economic performance all 28 EU member states are back to economic growth. So when we discuss fiscal for four months we had done as an assessment and today we are publishing opinions on member states. A draft budgetary plans and indeed in case of Italy it's one of the countries where we seize the risk of non-compliance with the requirements of Stability and Growth Pact. And you said one of the countries that you see with noncompliance just high off kilter high off peak might be and who else is at risk on the at risk list. VICE PRESIDENT Well there are several countries I cannot preannounced our European Semester package right now because we'll be coming with detailed opinions on all euro area member states budget later today. But I can say is that indeed there are several countries which we'd been at risk of noncompliance and therefore call on those countries to do as the necessary fiscal measures to bring their budgets in line with Stability and Growth Pact. I know you don't want say we won't go through asking you about all of them but I've just noticed some reporting over in Spain that suggests the EU is going to warn Spain that it may need to do more cutbacks in Spain and country countries concerned about well as regards Spain it's worth noting that Spain is one of the countries which is still in excessive deficit procedure. So so what's expected in Spain in this case is that say do timely correction of excessive deficit and this is foreseen for next year. Also as our two countries which are still in excessive deficits it was just France and U.K. in case of a U.K. we are actually seeing that excessive deficit is being corrected. So this will leave us was only two countries having budget deficits still about 3 percent of GDP. Spain and France . And in case of France they had to correct excessive deficit already this year let's just pick up on that on the French name obviously Mr. Macron is a new to his political chair and has a big agenda. Do you think his economic reforms are enough. Are you going to expect him to do more. He's already made some would say quite a good start. But do you expect him to have to do more Well indeed we see that a new French government has been very ambitious in terms of its reform agenda. And we think it's the right way so that you start doing reforms in a front loaded way . So doing bulk of reforms early is a mandate. And we see that's exactly exactly the approach which President Mark Gurman administration is currently taking. Already knows the number of reform packages on labor market on improving business and environment. And we welcome those reforms at President macro is also called for economic convergence with the Eastern members of the EU. That's a priority Well indeed it's a priority. And earlier next month on 6th of December European Commission will come forward with proposals as regards deepening our economic and monetary union and restarting the process of convergence among member states is going to be one was the priority work directions of this deepening of EMU package. So as I would say our views are broadly aligned. Vice President can I ask you. Obviously Germany is now in a political vacuum. There could be more elections or there could be the expediency of a former alliance with the SPDC. For Chancellor Merkel either way one is perhaps got to conclude we have a I perhaps a reduced Chancellor reduced strength in Germany. Could that hold back reform within Europe. Is that a risk that you are now considering well in any case from a European Commission perspective we are moving forward with the preparation of our proposals as regards deepening economic and monetary union. Well as regards our economic governance and it's worth noting that the European Union is a union of 28 democracies souls are always elections somewhere there is always coalition building somewhere it's not always goes smoothly and there's something which we need to lose in European unit and it doesn't mean that our work is therefore stopping on the subject of Brexit. We might see the relocation of some clearing businesses and some investors are concerned about higher costs of raising money for EU based businesses. Is this something that concerns you. The high cost of funding for European business Well of course we are still not in the stage of Brexit negotiations where we are discussing our future relations. We are still discussing first set of issues of citizens rights a budgetary settlement Irish border. And only then we can start discussing our future relations. And I would say a question how it's going to impact business in EU and UK is going to be part of those negotiations. But in any case it's clear that with that Brexit model which UK has chosen meaning leaving also EU single market this means that financial institutions based in UK will lose their EU passports so they will need to rely on other forms to continue to provide business in EU .