EU Summit Aims For Measures To Boost Stability In Euro Area
By KUNA
Leaders of the 27-member European Union begin here Thursday evening their 2-day formal summit with three main topics on the agenda, economic situation in Europe, Libya and Japan.
According to EU sources, the summit is expected to adopt a comprehensive package of measures aimed at strengthening EU economic governance and ensuring the stability of the euro area.
The EU leaders are also expected to discuss the situation in Portugal following the resignation Wednesday night of Prime Minister Jose Socrates due to the rejection by the Portuguese parliament of an austerity budget.
The package expected to be adopted includes measures to restore the health of the banking sector in Europe and endorsement of the Euro Plus Pact on economic policy coordination .
They waill also adopt an amendment to the Lisbon Treaty on the Functioning of the European Union to establish a European Stability Mechanism (ESM) to ensure the stability of the euro area.
The EU leaders are expected to discuss the situation in Libya following the adoption of UN Security Council resolution 1973. and the develoments in North Africa and agree on first steps to support the countries of the region.
They ares expected to stress the EUs determination to ensure the safety of the people in Libya by all necessary means, emphasizing the key role of the EU’s Arab partners, noted the EU sources who spoke to journalists on condition of anonymity.
The summit will express its support for the people and government of Japan, and assess the EU’s humanitarian aid effort in the country and the situation in the energy sector after the devastating earthquake.
Meanwhile, major disruption to traffic and public transport is expected in Brussels today as trade unionists from across Europe gather in the Belgian capital to protest against economic austerity measures.
