The Day Today

Chris Morris:
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?

Peter O'Hanraha-hanrahan:
It's 30 percent, Chris. Agreement was a long time coming, but in the end the decision was unanimous.

Chris Morris:
What was the Germans' reaction, because they've been holding out for 40 percent, haven't they?

Peter O'Hanraha-hanrahan:
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.

Chris Morris:
Really? You spoke to him yourself, you managed to pin him down? He's a pretty tricky man, isn't he?

Peter O'Hanraha-hanrahan:
That's right.

Chris Morris:
Where did you get hold of him?

Peter O'Hanraha-hanrahan:
He was in the hotel.

Chris Morris:
And you conducted a conversation with him about the quota rates?

Peter O'Hanraha-hanrahan:
That's right - he said he didn't like it, but he had to go along with it.

Chris Morris:
[beat] What language did you conduct this conversation in, Peter?

Peter O'Hanraha-hanrahan:
[beat] German.

Chris Morris:
[beat] You spoke to him about the technicalities of the deal in German?

Peter O'Hanraha-hanrahan:
Yes.

Chris Morris:
So what's the German for 30 percent?

Peter O'Hanraha-hanrahan:
[beat] Trenter percenter.

Chris Morris:
Dreißig prozent?

Peter O'Hanraha-hanrahan:
Yes.

Chris Morris:
And what about that quote you attributed to him, "I don't like it but I'll have to go along with it"?

Peter O'Hanraha-hanrahan:
That's what he said.

Chris Morris:
How did he say it?

Peter O'Hanraha-hanrahan:
"I don't like it, but I'll have to go along with it."

Chris Morris:
In German, how did he say it?

Peter O'Hanraha-hanrahan:
Ich... nichten lichten...

Chris Morris:
Presumably you mean "Rufen Sie ein Taxi bitte sonst verpass' ich meinen Flug"?

Peter O'Hanraha-hanrahan:
Yes!

Chris Morris:
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?

Peter O'Hanraha-hanrahan:
[defeated] No.

Chris Morris:
And what was his reaction?

Peter O'Hanraha-hanrahan:
I don't know.

Chris Morris:
Peter, thank you.