What Herr Rösler said to Madrid, Rome: consolidate budgets or else

  1. Full house to attend the German vice-chancellor's lecture.
  2. LSEEuroppblog
    Good afternoon all. We're going to be live-tweeting highlights from the #lserosler event from 1pm today. Hope you can tune in!
  3. katie_louw
    Waiting for vice-chancellor Rösler to arrive… anticipation is building! #LSERosler
  4. #LSERosler pic.twitter.com/EXZLZEyr
  5. thecornerdoteu
    #LSERosler Craig Calhoun: “this lecture couldn't be more timely (regarding euro zone problems)”
  6. #LSERosler pic.twitter.com/2OrImVwF
  7. thecornerdoteu
    #LSERosler Rosler: “Only liberalism can help Europe”
  8. LSEEuroppblog
    Rosler: “I am convinved that eurozone reforms will lead to stability and growth union” #lserosler
  9. thecornerdoteu
    #LSERosler “I'm confident the reforms introduced are in the right path towards economic recovery”
  10. eurotales
    Roesler now talking about importance of compromise in europe #lserosler
  11. mcborstell
    #LSERosler: the EU is not about cherry picking…. Hint: he may have meant the UK…
  12. thecornerdoteu
    #LSERosler “The member countries must be resolute when consolidating their budgets” (you listening, Spain/Italy?”
  13. mcborstell
    #LSERosler the structural causes cannot be remedied by debt-fuelled spending // It is a bit like sport: You cannot achieve it via doping
  14. thecornerdoteu
    #LSERosler Vice chancellor linking today solutions' validity to their success in Germany 10 years ago.
  15. meandberlin
    “Joining a fitness club is not enough, you actually have to go and exercise” #LSERosler #wisdom
  16. eurotales
    Roesler talking about importance of tough reforms for economic success. I havent seen any in the last 3 years…#LSErosler
  17. LSEEuroppblog
    Rösler: “Structural causes of eurozone crisis cannot be remedied through more debt” #LSERosler
  18. mcborstell
    #LSERosler: Greek support payments should be administered via an escrow account to increase transparency
  19. katie_louw
    #LSERosler outlines vision of liberal europe, calls for labour market reform and fiscal responsibility to restore confidence
  20. thecornerdoteu
    #LSERosler “Ireland is a good example” of reforms and budget cuts having the right effect…
  21. LSEEuroppblog
    Rösler: “Single market remains best long term growth plan for Europe” #LSERosler
  22. LSEEuroppblog
    Rösler: “Eurozone not doing enough to implement existing rules – new proposals only make sense if reinforce current procedures” #LSERosler
  23. eurotales
    Roesler: we have enough rules in europe, but need to implement them #lserosler
  24. KSmedsvig
    “If you want to be fit, you actually have to turn up to the fitness club” #lseRosler, about the structural reforms that must be implemented.
  25. eurotales
    Classic liberal mantra now: trade creates jobs #lserosler
  26. thecornerdoteu
    #LSERosler “Country members must show their responsibility” (no relief for Madrid/Rome)
  27. eurotales
    'centralism' not the solution for europe according to Roesler #LSErosler
  28. LSEEuroppblog
    Question: “Where would you draw line on monetary financing?” #LSERosler
  29. #LSERosler pic.twitter.com/3qYXEVva
  30. eurotales
    Roesler speaking german with translator now. Excuse: if he would chose the wrong words in english, ppl in germany would be mad #lserosler
  31. LSEEuroppblog
    Rösler: “Bond purchases are not alternative to structural reforms -ECB will continue in its task”#LSERosler
  32. LSEEuroppblog
    Question: “If Greece leaves euro, would they have to leave EU as well?” #LSERosler
  33. LSEEuroppblog
    Rösler: “Fiscal compact means structural reforms will take place, but will take time. Situation different to 2010” #LSERosler
  34. MaxKarmann
    #LSERosler Rösler dodges the question of Greece leaving the euro and/or the eu as is appropriate for his profession.
  35. LSEEuroppblog
    Rösler: “Many EU member states not eurozone members” #LSERosler
  36. PopArtPolitics
    Whether #Greece will on won't have to leave EU (!) will be determinated by #Troika, says German Vice Chancellor #Roesler at LSE #LSERosler
  37. katie_louw
    A euro Grexit need not mean Greece leaves the European Union #LSERosler – good news!
  38. Dr Rosler vice chancellor germany at APCO / LSE lecture #LSERosler pic.twitter.com/XnG76dzp
  39. mcborstell
    #LSERosler says that the EU needs more integration and a renounciation of national sovereignity to EU levels pertaining new rules
  40. thecornerdoteu
    #LSERosler If markets are listening, expect Spanish/Italian sovereign bond yields to spike like rockets..!
  41. katie_louw
    @thecornerdoteu the markets are always listening!#LSERosler
  42. katie_louw
    What about a United States of Europe superstate? Rösler: the rules could be tightened further…#LSERosler
  43. LSEEuroppblog
    Question:”Germany has given huge bailouts to banks – how can banking system be changed?” #LSERosler
  44. thecornerdoteu
    #LSERosler First fix the structures, then pump them up with money, says clearly translator.
  45. LSEEuroppblog
    Rösler: “Need structural reforms, can't pump money into rotten structures” #LSERosler
  46. LSEEuroppblog
    Rösler: “Haven't just given money to banks, required them to restructure, e.g. Landesbank building society”#LSERosler
  47. #LSERosler pic.twitter.com/12QptEHJ
  48. LSEEuroppblog
    Question: “Does Germany only take measures when it has to?” #LSERosler
  49. Usherwood
    RT @LSEEuroppblog: Rosler: “Maastricht promise of stability has never really been kept” #lserosler
  50. eurotales
    Roesler: fighting crisis with central bank leads to inflation. I take that point, but is inflation an absolute evil? #LSErosler
  51. LSEEuroppblog
    Rösler: “Our way is not only way. We worry QE can fuel inflation, right way is budget consolidation” #LSERosler
  52. Sarah_M_Mewes
    Roesler says Germany's ideas on the debt crisis and their structural reform packages have shown results#LSERosler
  53. eurotales
    Roesler: german governmenr hasnt used phrase 'without alternative' in 2 years. Laughs again #lserosler
  54. thecornerdoteu
    #LSERosler In cockney we'd say Rosler is giving euro peripheral governments a lot of attitude…
  55. LSEEuroppblog
    Question from LSE Hellenic Soc: “Is Germany asking for economic obedience and is it right to disregard social impacts?” #LSERosler
  56. thecornerdoteu
    #LSERosler In Spain, as in Portugal, as in Greece… governments need to do their homework.
  57. mcborstell
    Broken promises in euro zone reforms; not answering social implications of the reforms #LSERosler
  58. Sarah_M_Mewes
    The new Greek government needs to start on implementing the agreed reforms especially re a KFW-like bank, says Roesler #LSERosler
  59. LSEEuroppblog
    Rösler: “Made agreements with Greece on competitiveness, but agreements were not done in practice” #LSERosler
  60. thecornerdoteu
    #LSERosler Rosler complaining euro peripheral governments relax fiscal tightening whenever helped to lower markets pressure.
  61. LSEEuroppblog
    Rösler: “We see social difficulties, but if we relax reform situation will be even worse in 2/3 years” #LSERosler
  62. thecornerdoteu
    #LSERosler “Europe for me is much more than an economic area”
  63. eurotales
    Roesler: europe more than just a common market. We have common values #LSErosler
  64. #LSERosler pic.twitter.com/Tho8SR6T
  65. LSEEuroppblog
    @craigjcalhoun Closes lecture with thanks #LSERosler
  66. thecornerdoteu
    #LSERosler End of the lecture. Tough declarations, tough stand.
  67. Great lecture by German Vice-chancellor and Minister of Economics Dr. Rösler on competitiveness in Europe #LSERosler pic.twitter.com/dwxXIfdE
  68. katie_louw
    Germany is still wary of inflation, looks like austerity won't abate #LSERosler
zp8497586rq

About the Author

Victor Jimenez
London contributor at thecorner.eu, reporting about the City and the Eurozone economies. He regularly writes for Spanish newspaper group Prensa Ibérica--some of his features include shared work with journalists of The Daily Telegraph and the BBC.