IMF / EUROZONE

The International Monetary Fund welcomes news that the European Central Bank will nearly double its subscribed capital. The move is designed to moderate market instability. IMF

• Categories: News & Features / News Stories / Unifeed
• Video Length: 00:01:39
• Production Date: 16 December 2010
• Asset Language: Original
• Corporate Name: INTERNATIONAL MONETARY FUND - IMF
• Subject Topical: ECONOMIC DEVELOPMENT; FINANCING; ECONOMICS; ECONOMIC CONDITIONS; DEVELOPMENT
• Geographic Subject: EUROPE
• MAMS Id: U101216h

Description

STORY: IMF / EUROZONE
TRT: 1:39
SOURCE: IMF
RESTRICTIONS: NONE
LANGUAGES: ENGLISH / NATS

DATELINE: 16 DECEMBER 2010, WASHINGTON DC / RECENT

Shotlist

RECENT - WASHINGTON DC

1. Wide shot, exterior IMF headquarters

16 DECEMBER 2010, WASHINGTON DC

2. SOUNDBITE: (English) Caroline Atkinson, Director External Relations, International Monetary Fund:
“We do believe there is the need of a comprehensive and integrated plan that is a pan-European plan for reviving the Eurozone and most importantly bringing back growth. We also do believe that the Europeans themselves are committed to that and that is a manageable situation. They are clearly engaged in working on a comprehensive plan.”
3. Cutaway, reporters
4. SOUNDBITE (English) Caroline Atkinson, Director External Relations, International Monetary Fund:
“A comprehensive plan entails measures to support the countries in the Eurozone, to support financial stability. Indeed, you may have seen today that the European Central Bank announced that it’ll be increasing its capital to help promote financial stability, that’s another important measure. We have seen back in May that the Eurozone agreed on the EFSF, and that has since been established, which takes a more comprehensive approach so all of these steps are important parts of coming together. There has been discussion about the European Stability Mechanism, which will be worked on in coming weeks. These are all important elements of a comprehensive plan.”
5. Cutaway, journalists

RECENT - WASHINGTON DC

6. Wide shot, exterior IMF headquarters

Storyline

The International Monetary Fund today (16 December) welcomed news that the European Central Bank will nearly double its subscribed capital. The move is designed to moderate market instability.

In its regular press briefing, IMF Spokesperson Caroline Atkinson said the boost in capital is a step toward a cohesive European plan for dealing with the European debt crisis.

“We do believe there is the need of a comprehensive and integrated plan that is a pan-European plan for reviving the Eurozone and most importantly bringing back growth. We also do believe that the Europeans themselves are committed to that and that is a manageable situation. They are clearly engaged in working on a comprehensive plan,” Atkinson said.

Atkinson said that it will be critical for European countries to work together to build confidence in the Euro and foster economic growth.

She said the Europeans are moving in the right direction.

“A comprehensive plan entails measures to support the countries in the Eurozone, to support financial stability. Indeed, you may have seen today that the European Central Bank announced that it’ll be increasing its capital to help promote financial stability, that’s another important measure. We have seen back in May that the Eurozone agreed on the EFSF, and that has since been established, which takes a more comprehensive approach so all of these steps are important parts of coming together. There has been discussion about the European Stability Mechanism, which will be worked on in coming weeks. These are all important elements of a comprehensive plan,” Atkinson said.