A week of foul-tempered debate in Europe ended this afternoon as finance ministers agreed new quota rates for trade with the United States. In Brussels is our economics correspondent, Peter O'Hanraha-hanrahan. Peter, what is the new rate?
It's 30 percent, Chris. Agreement was a long time coming, but in the end the decision was unanimous.
What was the Germans' reaction? Because they've been holding out for 40 percent, haven't they?
That's right. When I spoke to finance minister Reinhardt earlier today, he said he didn't like the deal, but he had to go along with it.
Really? You spoke to him yourself, you managed to pin him down? He's a pretty tricky man, isn't he?
That's right.
Where did you get hold of him?
He was in the hotel.
And you conducted a conversation with him about the quota rates?
That's right - he said he didn't like it, but he had to go along with it.
...What language did you conduct this conversation in, Peter?
...German.
You spoke to him about the technicalities of the deal in German?
So what's the German for "30 percent"?
...Trenter percenter.
Dreißig prozent?
And what about that quote you attributed to him, "I don't like it but I'll have to go along with it"?
That's what he said.
How did he say it?
"I don't like it, but I'll have to go along with it."
In German, how did he say it?
Ich... nichten lichten...
Presumably you mean "Rufen Sie ein Taxi bitte sonst verpass' ich meinen Flug"?
No you don't, Peter, because that means "Get me a taxi, I'm late for my plane!" Now I'm going to ask you a question: did you speak to the German finance minister about the new deal this afternoon?
[defeated] No.
And what was his reaction?
I don't know.
Peter, thank you.
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