Downing Street Says

» Tuesday, February 9, 2010

Economy

Asked how concerned the Prime Minister was about the economic problems in the Eurozone and if he would be meeting President Sarkozy this week to discuss the issue, the PMS said that the problems in the Eurozone were a focus of attention, but given we were not in the Eurozone it was not something that we would be specifically involved in. The Prime Minister would no doubt have brush-by time with President Sarkozy in Brussels this week but there were no current plans for a bilateral.

Asked if any other bilaterals had been planned, the PMS said no; the meeting in Brussels this week was informal and fairly short so as yet no bilaterals had been planned.

Asked if the Prime Minister was concerned about contagion from problems in the Eurozone, the PMS said that it was not for the UK to make comments about the Eurozone for obvious reasons.

Asked if the Prime Minister was concerned by the resignation of the Financial Services Authority (FSA) Chief Executive, the PMS said that the Prime Minister endorsed the words of Adhair Turner; Hector Sants had given outstanding service and leadership throughout the last three years. Mr Hants himself had said that he came in to do a specific job for a specific amount of time.

Asked if the Prime Minister was confident of finding a successor to Mr Sants before the election, the PMS said that there was a notice period and there would be an orderly succession but it was best to speak to the Treasury for details.

Put that retailers were suggesting that the month of January, largely due to the weather, had been one of the worst for many years, the PMS said that the weather was not under the Prime Minister’s control. There was no doubt that the extreme weather conditions had affected retail sales in January, but the Prime Minister and Chancellor had both been consistent in saying that we expected recovery to return at the turn of the year.

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Economy

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