(21 Jul 2011) SHOTLIST
AP TELEVISION
1. Wide of French President Nicolas Sarkozy at news conference
2. Cutaway of journalists listening
3. SOUNDBITE (French) Nicolas Sarkozy, French President:
"In order for Greece to repay its debt, we have decided to increase the length of the loans. Of course, the same loan if you increase its length, you are diminishing the effort. And we have decided to reduce significantly the interest rate, and the private sector will accompany this movement by participating on a voluntary basis to this increased length and to the decrease of the interest rates. After, if the rating agencies are using the word you just used (default), it is not part of my vocabulary. Greece will pay its debt."
4. Cutaway journalist taking notes
5. Wide of Sarkozy and journalists
6. SOUNDBITE (French) Nicolas Sarkozy, French President:
"What we are doing for Greece, in term of sustainability, we will not do it for any other country from the eurozone. I am asking you to realise the importance of this decision. Because in this sustainability problem, we are dealing with the risk of contagion."
7. Close of journalist
8. Wide of German Chancellor Angela Merkel
POOL
9. SOUNDBITE (German) Angela Merkel, German Chancellor:
"I strongly welcome the voluntary contribution from the banks. I believe that this is the right signal coming at a difficult time. We all know that the failure of the markets to trust us could lead to a situation where the effects could spread to other countries and this is why we decided on precautionary measures that are to be applied in a stringent manner. The EFSF (European Financial Stability Facility) will be made more flexible which is to say that in the future we will be able to respond better than has been done so far in this case."
AP TELEVISION
10. Cutaway journalist taking notes
POOL
11. SOUNDBITE (German) Angela Merkel, German Chancellor:
"For Germany, the euro and the European Union are the foundation of our prosperity and of our peace that we enjoy. What we are doing now is to stabilise Europe and we will receive the benefits in many ways in the future. We are investing in the well being and prosperity of our country and of the people in our country."
AP TELEVISION
12. Cutaway of cameraman
13. Wide of presser
STORYLINE
The German Chancellor and the French President said on Wednesday that they agreed to a second bailout and reducing the interest rates for Greece in order to avoid the debt crisis spreading further across the eurozone.
The eurozone countries and the International Monetary Fund will give Greece a second bailout worth 109 (b) billion Euros (155 (b) billion US dollars), on top of the 110 billion Euros already granted a year ago.
Banks and other private investors will contribute some 50 (b) billion euro (71 (b) billion US dollars) to the rescue package by either rolling over Greek bonds that they hold, swapping them for new ones with lower interest rates or selling the bonds back to Greece at a low price.
The French President, Nicolas Sarkozy, said the only chance that Athens had of repaying its debt was to reduce the interest on the loans.
Sarkozy estimated the new interest rates would average 4.5 percent while insisting that despite predictions by credit agencies that Greece would default, this simply was not an option.
However the French leader warned that this model would not be repeated for other struggling eurozone.
"I am asking you to realise the importance of this decision. Because in this sustainability problem, we are dealing with the risk of contagion," he added.
which is widely expected.
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