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EU leaders agree on anti-crisis package
Date:2011/2/14      View:964
 
European Union (EU) leaders have agreed to adopt a comprehensive anti-crisis package in March, complete the 27-nation bloc's internal energy market by 2014, and urge Egypt to immediately begin democratic transition as the first summit of this year concluded here Friday.

Apart from reinforcing the current temporary bailout fund and paving way for the permanent replacement, the main elements of the comprehensive package also include an agreement on stronger economic governance, stress tests in the banking sector, the implementation of measures to strengthen budgetary positions and growth prospects in the euro zone as well as existing programs in Greece and Ireland.

"The outlook (of the economic situation in Europe and in the euro zone) has substantially improved... The decisions taken last year are clearly paying off. However, we are aware that there is still a lot of homework to do," Van Rompuy said in the summit's press conference.

"It is not a time for complacencies. We will draw the lessons from the crisis," he said.

Leaders from the euro zone also discussed how to achieve a stronger economic convergence, by working closer together in national policies increasing competitiveness, Van Rompuy said.

The debt crisis, which saw the bailouts of Greece and Ireland and threatened to further sink the euro, has dominated EU summits for a year.

As for the scheduled topic of energy and innovation issues that were somehow eclipsed by the debt crisis and the unrest in Egypt, the EU leaders also pledged to complete the internal energy market and the European Research Area by 2014.
 
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