Brussels, 01/06/2001 (Agence Europe) - On Tuesday, the Finance Ministers of the Eurogroup will have devoted most of their meeting - which starts at 20H30 on 4 June, in Luxembourg, chaired by Belgian Minister Didier Reynders - to the economic situation within the euro zone and in the rest of the world. They planned to grant special attention to the worrying signs of a downturn in the European economy, for which growth forecasts have been reviewed downward for the year 2001 further to the slowdown in the world economy and, above all, in that of the United States. With this outlook in view, they could not do other than speak of the bad performances of the euro, which was under the $0.85 threshold at the end of the week because, among other things, of what were considered unwise statements by ECB President Wim Duisenberg. The finance ministers then discussed the Broad Economic Policy Guidelines
(BEPG) for this year which are still far from being the subject of consensus (see below). They will hold a first policy debate on the preparation of the Member Sates budgets for 2002. The Twelve, moreover, continued their scrutiny of the state of preparation for the changeover to single currency. Commissioner Pedro Solbes, responsible for economic and monetary matters, encouraged them to better coordinate the changeover operation. Ministers first of all tackled the question of price stability at the time of conversion, the protection of consumers through measures such as double labelling, rounded amounts, and the commitment of retailers and of industry to ensure stability and growing price surveillance at the time when changeover occurs.