• Short Summary

    Common market leaders painted a gloomy picture of the immediate economic future facing the Community at the first day of their summit meeting in the Belgian capital, Brussels, on Wednesday (16 July).

  • Description

    Common market leaders painted a gloomy picture of the immediate economic future facing the Community at the first day of their summit meeting in the Belgian capital, Brussels, on Wednesday (16 July).

    It was reported that French President Valery Giscard d'Estaing stressed that the problems plaguing Community economies were deeper than earlier estimated and would take longer to solve.

    He insisted that other major industrialised countries -- such as the United States and Japan -- should be brought into coordinated international efforts to revitalise the world economy.

    The E.E.C. leaders met in the Council of Ministers building in unusual secrecy. Many of the issues to be discussed ??? problems that have eluded solution in lower-level forums.

    The entire two-day summit was taking place with only the heads of Government, and two advisers each, present in the conference room.

    Topping the leaders' agenda was the future of the community now that Britain has unequivocally confirmed its membership, in a referendum last month.

    British Prime Minister Herald Wilson told the first day's meeting that the Community's declared goal of economic and monetary union was unrealistic at this time, but agreed that the economic crisis called for closer cooperation within the Nine and with other industrialised states.

    West German Chancellor Helmut Schmidt said a mild economic upturn predicted by many experts for later this year would occur only of the Nine closely coordinated their economic policies. He suggest member states should continue to run budget deficits if necessary to maintain public spending to protect jobs and boost economic activity.

  • Tags

  • Data

    Film ID:
    VLVA7DK9TGP187KHMD5QKQIVG26DN
    Media URN:
    VLVA7DK9TGP187KHMD5QKQIVG26DN
    Group:
    Reuters - Including Visnews
    Archive:
    Reuters
    Issue Date:
    16/07/1975
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:05:00
    Time in/Out:
    /
    Canister:
    N/A

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