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欧盟财长重点在于市场

2011-10-02来源:CNN

They came to Poland for their normal monthly meeting. But the finance ministers and central bank chiefs of the countries that use the euro have seen so much turmoil since their last meeting. Global growth is slowing fast, market volatility is growing fast, and fears of a Greek debt default top every economic meeting.

We recognize the significant efforts made by the Greek authorities over the last year, aimed at stabilizing public finances and reforming the economy. The continued full implementation of the adjustment program remains crucial to ensure fiscal sustainability, safeguard financial stability and boost the competitiveness of the Greek economy.

The European moneymen were joined by US Treasury Secretary Timothy Geithner in closed meetings. He was quoted as saying the biggest danger in Europe was disagreements between European governments and the European Central Bank, a point I put to Slovakia's finance minister.

This is I think on one side natural, because we have, the European Union is not one state. It is the union of the 27 states and the euro group is the union of the currency of the monetary union of the 17 states, which means it is, I mean, a special situation and in this regard, it is natural. Another other side, of course, it is  necessity to have, I mean, more flexible and more unified approach.

Maybe not speaking with one voice yet, but standing and sitting together as one for the so-called family photo. No consensus either on whether the world needs more fiscal stimulus to keep from going into recession. Yuncker said Europe needs to stay on the austerity path, rejecting perhaps American pressure to increase spending. Sweden's finance minister said this of secretary Geithner's advice to them.

What he was trying to convey I think was that we're all in a very difficult situation. There is a debt storm riding over Europe and we need to see some progress, because this is a major issue for the whole world economy, and I think he argued very strongly on that case.

The issue of course on everyone's lips, whether Greece has to default which it says it won't, but time is running out. The meetings here end on Saturday afternoon and the markets have their chance to respond come  Monday. And that's before it's known if Greece has even met its budget deficit targets, though that will become clear one way the other in the next few weeks.

Jim Boulden, cnn, Wroclaw, Poland.