The administration devised its new initiative to conplement similar European efforts.

European diplomatic efforts were also being made to resolve currency problems.

We have to bear in mind that this will have some effects on the visibility of our European efforts.

And finally our relations with China and European effort in the field of research.

Yes, the European effort in relation to research and development obviously needs to increase.

This is why the international effort, particularly the European effort, is so important.

European efforts to counter the crisis must be coordinated and balanced.

European efforts should be directed towards seeking an agreement that places an obligation on all parties.

It goes without saying, therefore, that European efforts should be aimed at encouraging sustainable economic growth.

"Today's announcement demonstrates that we are prepared to take practical steps to support European efforts to this end."