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French President: Willing to Do Everything to Strengthen EU

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  • Description

    FBN's Ashley Webster on concerns over the European economy.

  • Duration 2:04
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Thank you look Treasury Secretary Timothy Geithner back in the US but concerns over Europe remain especially.

After new numbers should the Euro zone unemployment rate held steady.

At a record high eleven point 2%.

In June well over our unemployment rate over 8% Ashley -- there -- is outside the European central bank's headquarters in Frankfurt.

With more -- Yes hi Lori -- calls all eyes will be on the ECB this Thursday when we'll get some sort of announcement at least the markets believe we're gonna get some sort of aggressive policy -- -- from the European Central Bank.

And had an attempt to perhaps bring confidence back to the markets certainly bring down the borrowing costs of France and -- should say obviously.

And Spain we did have some renewed statements today of support for the Euro.

This time from French president Francois -- and he said quote.

We repeated that we will do everything so that the eurozone is defended preserved and consolidated.

That was from -- French president -- he met with.

Italian prime minister Mario Monti in Paris today -- We've had a number of these pledges in the last several days on the heels of the ECB's statement last week.

That it will do whatever it takes to preserve the Euro but as you say -- the unemployment rate -- eleven point 2%.

Eurozone wide that's very highest it has historically high number.

And the economies especially in the southern states -- certainly hurting and so it's up to the ECB.

To try and do something -- question is what could that be the Bundesbank that is the German Central Bank says it does not want to give the bailout fund -- banking license it also doesn't like the fact that the ECB may in fact announced that it will stop buying.

Italian and Spanish debt so Germany maybe not -- -- but the markets hoping that certainly the ECB on Thursday.

We'll give them at least some reason to think there's some aggressive action is eventually or at least.

Finally going to be taken guy's fat white.

As the ECB have to watch the Fed the ever July payrolls on Friday here in the US actually busy week still ahead thank you so much.

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