Brussels, 07/01/2002 (Agence Europe) - The crisis in Argentina should "inevitably" have an impact on the investment made by European companies in this country, but "should not have a global impact on the European economy", said Gerassimos Thomas, Spokesman for the European Commissioner for Economic and Monetary Affairs, Pedro Solbes, on Monday. For now, he specified, "the Commission is studying the situation" following approval by the Argentinean government on Sunday of the economic emergency law that puts an end to ten years of pesos/dollar parity and allows, among other things, the emission of securities in foreign currencies. At first sight, certain measures announced by the Argentinean government "appear contradictory", remarked the spokesman.
Gunnar Wiegand, spokesman for External Relations Commissioner Chris Patten pointed out for his part that the Commission notes "with understanding" the declarations by the new Argentinean Foreign Minister, Carlos Ruckauf, in favour of "rapprochement" with the European Union. During his first speeches, Carlos Ruckauf announced his intention to diversify Argentine's external relations, stressing that "no country can close itself into a single relationship". Urging for "polygamy" in foreign relations, Mr Ruckauf gave his assurance that it is not necessary to bring into opposition the future of the free trade area of the Americas during negotiations between the Latin American countries, the United States and Canada, with the free trade area negotiations between the EU and Mercosur (the seventh round of EU/Mercosur negotiations, launched in March 2000, will be held in March).
Mr Ruckauf, who said he was willing to "pursue the strengthening of Mercosur" between Argentina, Brazil, Uruguay and Paraguay, will be in Brazil on Wednesday to prepare for a possible extraordinary summit. Argentina has since the beginning of the month held the half-yearly presidency of Mercosur.
Mr Rato assures Spanish Presidency will do everything possible to help Argentina
get back on the road to growth
Rodrigo Rato, the new Ecofin Council President, assured MEPs and the press on Monday afternoon that the Spanish EU Council Presidency would do everything it can so that the European Union plays an active role in Argentina's efforts to get back onto the road to growth. At the same time, Mr Rato insisted on the need for the authorities in Buenos Aires to set in place the conditions for credible improvements to the economy and acknowledged the fact that a pre-condition for this is regaining the confidence of international organisations and having a favourable investment climate.
EUROPE will come back to the exchange of views between Rodrigo Rato and the European Parliament's Committee on Economic and Monetary Affairs tomorrow, with regard to the priorities of the Spanish Presidency during the coming term of office. These priorities are to be presented next week by José Maria Aznar in Strasbourg (see below for the agenda of the European Parliament's first session in 2002).