Brussels, 12/02/2010
This is unsatisfactory and it is to be hoped that Europe’s finance ministers can devise specific and clear plans when they meet next week and so add much needed credibility to the EU’s approach. The most vulnerable economies in the eurozone are likely to need some help to maintain stability, and the EU needs a clear plan with the scale of assistance available, and the obligations to be incurred if it is sought.
John Monks, General Secretary of the European Trade Union Confederation (ETUC), adds: “It was not a good start for the first EU summit, post the adoption of the Lisbon Treaty. The EU needs to consider urgently ETUC proposals for the creation of Eurobonds and transaction taxes to create more scope for EU support.”