International financial situation – Statement by M. Nicolas Sarkozy, President of the Republic
Paris, 6 October 2008
Ladies and gentlemen,
Early this morning, after working together with a number of European heads of State and government, I took the initative of proposing for signature by the 27 EU heads of State and government the following draft statement, which has been unanimously agreed by all our partners. It is thus a statement which will be published at the same time in the 27 EU countries. Here’s the statement:
"We, heads of State and government, declare that each of us will take whatever measures are necessary to ensure the stability of the financial system – whether by injecting liquidity from central banks, by measures targeted at certain banks or by enhanced measures to protect deposits. No depositor in the banks of our countries has suffered losses and we will continue to take the necessary measures to protect the system and depositors. In taking these measures, we acknowledge the need for close coordination and cooperation within the European Union.
The President of the European Commission naturally associates himself with this statement."
This text is being published simultaneously, in press communiqués, in the 27 European Union countries.
On Saturday evening, Germany, Italy, the United Kingdom and France, together with the Eurogroup President and Governor of the Central Bank, expressed their determination in the face of the crisis.
Today all the European governments are telling European citizens that they are united, demonstrating solidarity and determined in the exceptional financial circumstances we are going through today.
In the face of the crisis, Europe’s unity was essential. Today this unity has been achieved.
Thank you./.