I had talks with my American colleague, (Treasury Secretary) John Snow, which created the basis on which the forgiveness of Iraqi debt can be settled mutually in the Paris Club.

We will have a very tough debate in the second half of 2002.

We see that the inflation rate is going down, so that there is a chance that tax reform with its enormous relief in the second half of the year will begin to work.

Germany has signaled it is ready to move but that does not change our basic view.

Within this framework, the necessary decisions can now be taken in the Paris Club.

That would be that and it would bring in a lot of money.

Everything I proposed and much more still will be done now.

Anyone who wants to cut taxes on energy as an answer to higher oil prices has already lost, ... You would be opening your national budget to OPEC and the oil industry.

It's a shame it happened like this, but we have to respect it.