HIGHLIGHTS-Eurogroup finance ministers' meeting
LUXEMBOURG, Oct 19 - The following are comments by finance ministers from the 16-country euro zone and other officials in connection with their meeting on Monday in Luxembourg.
EUROGROUP CHAIRMAN JEAN-CLAUDE JUNCKER
On whether Eurogroup had discussed alternatives to G7:
"There was no such discussion on this occasion."
EU MONETARY AFFAIRS COMMISSIONER JOAQUIN ALMUNIA
On Greek statistical discrepancies:
"I am seriously concerned about significant statistical discrepancies."
"These serious discrepancies will require an open and deep investigation of what has happened. We had these episodes in the past and changed decisions and even regulations to change the capacity of Eurostat to deal with these problems."
"We want to know what has happened, why it has happened and I will come back as soon as possible with proposals, if needed, to reinforce the instruments."
EUROGROUP CHAIRMAN JEAN-CLAUDE JUNCKER
On Greece:
"The game is over -- we need serious statistics."
ECB PRESIDENT JEAN-CLAUDE TRICHET
On Greece:
It is "extremely important that the competitiveness of Greece will be improved as resolutely as possible."
On exit strategies:
"It is very important in any case to start in 2011, the exit strategy. France and Germany have to be treated in the same fashion."
"For us it is extremely important that the Stability and Growth Pact will be respected."
EUROGROUP'S JUNCKER
On exit strategies:
"It is our common view that the exit strategy should start if the preconditions are fulfilled in 2011."
On upcoming visit to China by Juncker, European Central Bank President Jean-Claude Trichet and EU Economic Affairs Commissioner Joaquin Almunia:
"It is foreseen that the three of us will travel to China. We'll discuss ... the exchange rate policy but I don't think it makes sense to indicate now what our message will be."
ECB'S TRICHET
"The upshot of our discussion was a clear indication that excessive volatility and disorganised developments in the exchange markets was bad for economic and financial stability."
"We reaffirm a shared interest with our partners of the major floating currencies that we have a solid and stable currency system. We also agree that we all note with considerable interest the statements made by the American authorities as regards their policy for a strong dollar."
"We very much share that view expressed by the Treasury secretary, and also share the views expressed by Ben Bernanke. The European Central Bank would echo this position, which has been recently repeated by the American authorities." "We don't put into question the seriousness of the secretary of the Treasury. We trust what they say."
EUROGROUP'S JUNCKER
"There are clear signs of recovery but there is still a balance between the positive sides and negative sides ... we don't think the time is right to put an end to our recovery programmes."
"It seems to us monetary stimulus in the euro zone should be gradually withdrawn and we will be coming back to this in November and December."
DUTCH FINANCE MINISTER WOUTER BOS
On whether the euro is overvalued:
"We always say that we believe that the strength of a currency reflects the strength of the economy, so a strong euro reflects the strength of the European economy."
AUSTRIAN FINANCE MINISTER JOSEF PROELL
On what the ministers would discuss on Monday:
"We will discuss today what's going on in the economic forecasts for the next months. Now we will have a debate on what we discussed in Istanbul or in Gothenburg ... maybe we will discuss the euro, but it's not the main focus point this evening."
On currencies:
"It's clear that in the future, in the next months, we have to have a look at the euro compared to the U.S. dollar, compared to the Chinese currency, but it's not the main focus."
"We have to fight against the crisis. Also in these days and months, we have to prepare for the exit strategy. We will manage it in the next months and years. Those things are more important than the euro to the U.S. dollar or other currencies."