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Euro crisis hangs over latest EU summit
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Joined: Mon Jul 25, 2011 8:57 am
Posts: 76
Post Euro crisis hangs over latest EU summit
The eurozone crisis will dominate an EU summit on Monday, with an emphasis on growth and "smart" budget discipline.

The EU has more than 23 million unemployed people and there are fears that wide-ranging budget cuts will harm enterprise and training.

Cuts need to be "smart" - well-targeted - to allow room for future growth, the European Commission says.

Most member states - and not the UK - are expected to sign up to a new budget treaty, or "fiscal compact".

The goal is much closer co-ordination of budget policy in the 17-nation eurozone.

Diplomatic wrangling continues over the influence of non-eurozone countries in the new institutional set-up.

The UK opted out, in a blaze of publicity last month, but did secure observer status in the discussions.

Poland is insisting that it and other countries preparing to join the euro should be fully involved in the eurozone negotiations.


http://www.bbc.co.uk/news/world-europe-16766225


Mon Jan 30, 2012 4:45 pm
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