Brussels, 14/06/2005 (Agence Europe) - Joaquin Almunia, Commissioner for Economic and Monetary Affairs, and Secretary of the Treasury John Snow held a meeting on Tuesday in Brussels on the subject of the global economic situation, two days after the meeting of G8 finance ministers in London. Joaquin Almunia restated when speaking to the press that he was pleased with the agreement reached last weekend in London on debt relief for the 18 most heavily indebted poor countries (EUROPE 8967). Messrs Snow and Almunia exchanged views on the economic situation in Europe and in the United States, reform of the Stability and Growth Pact and the Lisbon Strategy. It is important that the EU should continue to focus on ways to promote Europe's growth and potential, John Snow told the press, calling on Member States to continue working with this in mind. He went on to add that the efforts he has seen being made by Member States and the European Commission for dealing with structural problems that hamper growth and for promoting good macro-economic policies must be warmly welcomed. He is convinced this will be profitable for Europe. It is essential for Europe to be able to achieve its potential growth level as this is “not only good for citizens but also for a balanced global economy”, Mr Snow explained. When asked whether he is confident in the euro institutions, the US Secretary to the Treasury evaded the issue saying he preferred not to comment on the currencies of others. He simply stressed: “I am here to speak of growth”. Mr Snow also refused to say whether or not he preferred ratification procedure to be continued after the French and Dutch no-votes to the constitutional treaty.