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EU Ambassador to the U.S. Joao Vale de Almeida on Europe’s debt crisis and Airbus’ plans to open a plant in Alabama.
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Lots of news out of Europe today we have a record unemployment over 11% in the Euro zone.
And bad boss is about to announce a big plan to open a factory in Alabama.
Right to -- Alabama nonunion Alabama.
-- -- -- Is Europe's ambassador to the United States he joins us from DCMR ambassador thank you for joining as we do appreciate you being here as a thank you good morning thank you.
11%.
Unemployment in the Euro zone and for those people under the age of 25 -- is 22%.
Of -- employment.
Now how much are you gonna blame America -- any of that.
Certainly not -- Blaming anybody and -- problems we are dealing without problems that we have facing them -- the determination and courage.
And what you see Europe -- -- you saw last week in Europe European council meeting you know it's the summit of European do this.
That took bold decisions.
In addressing.
The root causes of this problem -- that that.
The way we should promote growth and then look at the way we should we address the banking system -- are good news for Europe.
But I guess also good news for the United States would not if you in the blaming game -- want to cooperate across Atlantic to find solutions for sometimes common problem.
Clearly the money has to keep flowing.
I I hate to use it would bailout but the money has to keep flowing to -- countries whether -- main or Italy or Greece or Portugal but the money's got to keep flowing.
Now the Germans will impose conditions on the flow of money.
They will want to reform the banking system.
And they will want to have a say in the pension rules in that tax rules for individual European countries I've quoted to you mr.
ambassador.
The people of Europe are not gonna like that -- may well vote against it and you say.
Well I say that -- sovereign that it.
And this information deserves Soledad this is big and that the name of the game in Europe today -- countries -- of different levels of a development -- stages in the economic cycle.
But they agree on one thing they can only get out of this -- used to get.
And everything you have today on the table in Europe looks -- more -- not last year so well I'm very happy with the results of last week mind you the results of blustery have a quality that they have different nature.
Because they change a lot of that.
Of the perceived.
Reality in Europe if you pick the banking system if you -- what we have a ready to do in terms of supporting growth in Europe do you think.
That Europeans generally well accept German domination.
It's not an issue of domination did send an issue of common interest.
Germany as a strong interest I would say a national.
Interest in having a strong Europe a strong single markets are strong European Union a strong Euro way.
All the countries the other countries in -- aren't interested in having a solid German Economy which drives growth in Europe and in the world so I think.
Instead of looking at divisions that are always differences of opinion we prefer to look at what unites us and that -- a lot that -- -- -- -- A -- amassed a one more point two -- Airbus industry.
Is likely to announce any moment now a big new -- factory in Alabama in the southern United States.
-- will probably be a non union facility.
I'm sure that -- bus industries unions and it's totally unionized within Europe then -- gonna approve of that now off.
Well company decisions our company decisions I don't comment on that but from a political point of -- -- like to highlight this point.
Next time you fly and are buzzing in the United States you would know that you are also supporting American -- And this is this illustrates what the world economy is today.
It's very difficult to say one company's European or American want from -- tradition -- -- there this is a globalized economy that's why it's so important that we strengthen the links.
Across the Atlantic and I'm very much -- And working hard and our leaders -- fully committed to.
The revamping the trade and investment relationship between the EU and the US can we can produce more jobs across the Atlantic if we -- and this is -- -- -- -- we we have ready willing and eager to accept -- bus industries capital in Alabama in the southern United States mr.
ambassador I'm afraid we're out of -- -- -- do appreciate you being with us today thank -- -- --
