By President Barroso
Today, we have turned a page. The agreement in the ECOFIN Council marks the end of a year-long debate and the start of a new era of more robust economic governance in Europe.
I am especially pleased that the final text, notably the solutions agreed for reinforced governance and discipline, is so close to what the Commission proposed back in September 2010.
The European Union, and in particular the euro area, will now see in the new year with greatly strengthened rules for ensuring financial stability and balanced growth – the essential foundations for efforts to increase our competitiveness and spur job creation.