Norway urges EU to employ strategic financial tactics / News / The Foreigner

Norway urges EU to employ strategic financial tactics. Norway is uneasy with the manner of handling the financial crisis and the planning of economic growth at EU level and insists on strategic financial planning. Prime Minister Jens Stoltenberg took this up during his trip to Brussels yesterday. Stoltenberg expressed concerns vis- -vis the EU’s short-term and long-term financial measures under the meeting with Commission President Jose Manuel Barroso, European Council President Herman Van Rompuy, and Belgian Prime Minister Yves Leterme, who will assume the office of President of the EU next month.   The worries are justified, given the close trading relationship between Norway and the EU.

jens, stoltenberg, jose, manuel, barroso, herman, van, rompuy, yves, leterme, brussels, eu, norway



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Norway urges EU to employ strategic financial tactics

Published on Thursday, 17th June, 2010 at 08:20 under the news category, by Ramona Tancau.

Norway is uneasy with the manner of handling the financial crisis and the planning of economic growth at EU level and insists on strategic financial planning. Prime Minister Jens Stoltenberg took this up during his trip to Brussels yesterday.

Jens Stoltenberg and Jose Manuel Barroso
Jens Stoltenberg and Jose Manuel Barroso
Photo: Norwegian PM's Office/Flickr


Stoltenberg expressed concerns vis- -vis the EU’s short-term and long-term financial measures under the meeting with Commission President Jose Manuel Barroso, European Council President Herman Van Rompuy, and Belgian Prime Minister Yves Leterme, who will assume the office of President of the EU next month.  

The worries are justified, given the close trading relationship between Norway and the EU.

"We are completely integrated in the EU economy, more than 70 percent of our exports go to Europe, therefore we are following the economic developments in Europe very closely,” Stoltenberg told the EUobserver after his visit with the EU officials.

He urged the EU to focus on economic growth and avoid a further rise in unemployment whilst it cuts fiscal spending.

“The challenge is to be able to reduce the high deficits without contracting the economy and causing a new increase in unemployment,” Stoltenberg told Bloomberg Television.

He also predicted that even though some countries like Spain, Portugal, and Germany have taken measures to lower their deficit, the rest of the EU countries will actually have a deficit increase in 2011.

He further explained that the 750 billion euro rescue mechanism instituted after the Greek financial crisis increased the joint currency’s unpopularity in Norway.

Referring to Iceland’s situation, Stoltenberg pointed out predicting whether it will soon become an EU member or not is difficult, saying it all depends on the accession negotiations and the subsequent national referendum.

“Again, it will be the Icelandic people who will decide in the end. It's too early to say now, but I can say they have a lot in common with Norwegians," he declared.



Published on Thursday, 17th June, 2010 at 08:20 under the news category, by Ramona Tancau.

This post has the following tags: jens, stoltenberg, jose, manuel, barroso, herman, van, rompuy, yves, leterme, brussels, eu, norway.





  
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