Lagarde on 'Brexit', Schauble on China reform
(26 Feb 2016) RESTRICTION SUMMARY: AP CLIENTS ONLY AP TELEVISION - AP CLIENTS ONLY Shanghai – 26 February 2016 1. International Monetary Fund (IMF) Managing Director Christine Lagarde on stage 2. SOUNDBITE (English) Christine Lagarde, International Monetary Fund (IMF) Managing Director: "We stay out of the political debate because that's not where we should be. Are we concerned about it? Yes. The fact that there will be uncertainty of outcome until June 23rd, is an issue. I think we are beginning to see it in numbers actually, when you look at investments." 3. Lagarde on stage 4. SOUNDBITE (English) Christine Lagarde, International Monetary Fund (IMF) Managing Director: "Because there is uncertainty, as to what the terms would be under which the UK would be out of the European Union, it's difficult to assess exactly the consequences of it. But most likely it will be less fluid, and not more fluid. And it will have impediments and there will be deterrents and there might be barriers, and that would certainly be in the way of the fluidity of movement of capital, people and goods. So we are bound to conclude without having yet done the study, and we will try to do as fair and thorough a study as we can, that it will be a negative if it was to succeed." 5. Lagarde leaving stage 6. Conference 7. SOUNDBITE (English) Wolfgang Schauble, German Finance Minister: "The Chinese presidency is well aware of that. The structural reform agenda is part of the G20 framework for growth is one of the key pillars of their presidency. And Germany fully supports the Chinese presidency and their agenda. Sustainable growth, socially inclusive environmentally-friendly based on sound finances, and a stable financial sector." 8. Schauble on stage 9. Conference STORYLINE: The chief of the International Monetary Fund said on Friday that Britain's upcoming referendum on its future within the European Union (EU) was a concern to her organisation. IMF Managing Director Christine Lagarde spoke at an event on the sidelines of the G20 meeting of finance ministers and central bank governors in Shanghai. German Finance Minister Wolfgang Schauble also attended the event and said that Germany continued to support China's ongoing economic reform. China is facing pressure to reassure nerve-wracked world markets over its slowing economy and its management of its currency during the two-day G20 finance meeting. The decline has deepened concern, despite repeated Chinese denials, that Beijing might weaken its currency further to boost exports. That has helped to drive an outflow of capital from China that spiked to a record 135 billion US dollars in December. At the Shanghai meeting, US officials will urge G20 countries to avoid altering "exchange rates for competitive purposes," a senior US Treasury official told reporters in Washington. =========================================================== Clients are reminded: (i) to check the terms of their licence agreements for use of content outside news programming and that further advice and assistance can be obtained from the AP Archive on: Tel +44 (0) 20 7482 7482 Email: [email protected] (ii) they should check with the applicable collecting society in their Territory regarding the clearance of any sound recording or performance included within the AP Television News service (iii) they have editorial responsibility for the use of all and any content included within the AP Television News service and for libel, privacy, compliance and third party rights applicable to their Territory. Find out more about AP Archive: http://www.aparchive.com/HowWeWork Twitter: / ap_archive Facebook: / aparchives Instagram: / apnews You can license this story through AP Archive: http://www.aparchive.com/metadata/you...
