HIGHLIGHTS-Comments from euro zone finance ministers
BRUSSELS, Nov 9 (Reuters) - Following are comments from finance ministers of the 16-member euro zone as they gathered in Brussels on Monday for a meeting.
EUROPEAN ECONOMIC AND MONETARY AFFAIRS COMMISSIONER JOAQUIN ALMUNIA
ON NEW GERMAN FINANCE MINISTER WOLFGANG SCHAEUBLE
"The words pronounced by Minister Schaeuble today ... showed that the minister is fully committed to the implementation of the Stability and Growth Pact and understands well how the Stability and Growth Pact should be implemented during these difficult times.
"He has clearly mentioned that Germany will comply with the Syability and Growth Pact and with the constitutional rules regarding fiscal discipline, even taking into account this agreement on the tax cuts that is in the programme of the present coalition. And I think when one listens to Minister Shaeuble one immediately has the impression one is listening to a very credible politician."
ON FAIR TREATMENT OF ALL MEMBERS
"It is the first time since the euro exists that we will be facing at the same time excessive deficit procedures for 13 out of 16 members of the euro area, so this will require a horizontal view, a comprehensive view.
"At the same time differentiation will need to provide a global picture that demonstrates equal treatment or fair treatment for everybody, so we have to avoid, and the Commission will be very keen in avoiding, discriminatory treatments to one country against the others."
ON EXIT STRATEGIES
"We all agreed that provided that the central scenario included in our forecasts will be confirmed, 2011 is the year when the euro area should on aggregate terms start the fiscal exit."
SPANISH ECONOMY MINISTER ELENA SALGADO
ON THE OUTCOME OF THE MEETING
"For the points on our agenda, restoring public finances to health and tackling unemployment will be the priorities for the time to come."
ON BANK SUPPORT MEASURES
"On the time for withdrawing support measures for banks, I would point out that as far as the ECB is concerned they have been talking about a gradual phasing out of the non-standard measures, that means those measures for extraordinary liquidity for one year which were implemented as a result of the crisis. This would be a gradual phasing out, as the president of the ECB himself has advocated." Continued...


