BRUSSELS, Feb. 11 (Xinhua) -- The first summit of the European Union (EU) called by the bloc's President Herman Van Rompuy ended here on Thursday, dominated by Greece's fiscal crisis instead of an economic blueprint as originally planned.
 |
| Greece's Prime Minister George Papandreou talks to the media after the informal summit of the European Union (EU) in Brussels, capital of Belgium, Feb. 11, 2010. The first EU summit called by the bloc's first full-time President Herman Van Rompuy concluded here on Thursday afternoon, showing clear political support for debt-laden Greece. (Xinhua/Thierry Monasse) |
At a press conference held after the summit, Van Rompuy said that the discussion of EU 2020 Strategy has been put to the background, while much of the time was devoted to Greece's fiscal crisis.
With rising unemployment, an aging population and soaring budget deficits, the EU informal summit was originally planned to draw an economic blueprint to replace the current Lisbon Strategy which is due to expire in 2010.
But as Van Rompuy said that "events have decided otherwise," the EU 2020 Strategy was not fully discussed at the summit.
"It would be foolish to neglect a long term strategy, but it would be even more foolish and irresponsible to neglect the short term," he said.
Van Rompuy read a statement concerning Greece earlier during the summit, pledging "fully support" for the efforts of the Greek government and the commitments it made to reduce its budget deficit.
The Greek government submitted to the European Commission its stability program on January 15, pledging to keep its budget deficit below 3 percent of its Gross Domestic Product (GDP) in 2012.
Van Rompuy said in the statement that euro area member states will "take determined and coordinated action, if needed, to safeguard financial stability in the euro area as a whole."
Despite speculation that a rescue plan would be announced for Greece, the statement did not promise any financial aid to the country, saying "the Greek government has not requested any financial support."
Jose Barroso, head of the European Union, stressed at the press conference that the Greek crisis would be dealt with in a dual approach, which means the EU member states show its solidarity by taking "determined and coordinated action" and Greek bears its responsibility to carry out the stability program it submitted in mid-January.
As to questions that the pledge of political support may not be enough to allay fears of investors, Barroso told reporters that it was still too early to judge the effects of "the clear political will" showed by the EU leaders.
As far as the informal summit was concerned, Barroso said that political support was "proper" and more formal decision should be taken later by proper institutions.
He pointed out that EU finance ministers will meet on February 16 for a monthly meeting, which is expected to discuss Greece's crisis.
Related:
EU summit concludes with political support for Greece
 |
|
German Chancellor Angela Merkel (Front L), Greek Prime Minister Georgios Papandreou (C) and French President Nicolas Sarkozy (Front R) leave the EU Council building after a meeting in Brussels, capital of Belgium, Feb. 11, 2010. An informal summit of European Union leaders on Thursday, originally called to work on a new economic strategy for the next decade. (Xinhua/Thierry Monasse)
|
BRUSSELS, Feb. 11 (Xinhua) -- The first summit of the European Union (EU) called by the bloc's first full-time President Herman Van Rompuy concluded here on Thursday afternoon, showing clear political support for debt-laden Greece. Full story
EU summit overshadowed by Greece's fiscal woes
BRUSSELS, Feb. 11 (Xinhua) -- An informal summit of European Union leaders on Thursday, originally called to work on a new economic strategy for the next decade, has been overshadowed by Greece's financial woes.
The gathering was the first EU summit chaired by European Council President Herman Van Rompuy, who had hoped the meeting would focus on an economic blueprint for the 27-nation bloc by 2020.Full story
Barroso: Accord reached on Greece's budget deficit crisis
BRUSSELS, Feb. 11 (Xinhua) -- An accord concerning Greece's budget crisis has been reached, the president of the European Commission said Thursday.
"There is an accord, the presidency will announce it," Jose Barroso, president of the European Commission, told reporters several minutes before an informal summit of the European Union (EU).Full story
Eurozone finance ministers hold emergency talks on Greece
BRUSSELS, Feb. 10 (Xinhua) -- Finance ministers from the euro zone were holding emergency phone talks on Wednesday, raising hopes that the European Union (EU) may step in to contain the fallout from Greece's fiscal woes.
According to the French Le Monde daily, Luxembourg Prime Minister Jean-Claude Juncker, who heads the eurogroup of 16 finance ministers from the countries using the common currency, was to join in the talks.Full story
