Euro Summit Still On Despite German Crisis: Tusk
Umer Jamshaid Published November 22, 2017 | 11:20 PM
EU leaders will meet as planned next month to discuss reforms to the euro despite the crisis in Germany over the collapse of Chancellor Angela Merkel's coalition talks, EU President Donald Tusk said Wednesday
Brussels, (APP - UrduPoint / Pakistan Point News - 22nd Nov, 2017 ) :EU leaders will meet as planned next month to discuss reforms to the euro despite the crisis in Germany over the collapse of Chancellor Angela Merkel's coalition talks, EU President Donald Tusk said Wednesday.
"Just to be clear: The December Euro Summit is on," Tusk said on Twitter, referring to the planned December 15 meeting when leaders of 27 EU countries, except Britain, will mull the future of the single currency.
"As part of the Leaders' Agenda we need to discuss what, how and when to move forward on the EMU and the Banking Union," Tusk said, adding that he had had a "good phone call" with Eurogroup chief Jeroen Dijsselbloem to prepare the ground.
Tusk's confirmation came after European Commission Vice President Valdis Dombrovskis told AFP that the German political crisis "cannot stop our work" on reforming the euro. Going ahead with the meeting as planned will keep the EU on track to make key decisions on the future of the single Currency in June, as Tusk proposed in a recent "leaders' agenda" for the next two years of summits.
European sources had previously warned that the summit in Brussels might be postponed, given the breakdown of Merkel's efforts to form a ruling coalition in Europe's biggest economy.
The prospect of Germany going without a proper government for months has raised fears of a knock-on effect on plans pushed by France's President Emmanuel Macron to use the shock of Brexit as a springboard to deepen economic and political ties.
Next month's euro summit will include the Eurogroup of 19 countries that use the single currency plus seven others that signed the 2012 European fiscal pact during the eurozone debt crisis. The Czech Republic, which has not signed the treaty, and Croatia, which was not an EU member when the treaty was signed, will also both be invited as observers, but Britain will be left out of the cold.
The meeting will take place the day after a full summit of all 28 leaders which will decide whether talks on Britain's departure from the EU can move on from divorce issues to future trade relations.
The proposed euro reforms include a "budget line" for the eurozone, which could be used to stabilise countries in case of economic shocks, and transforming the eurozone's bailout fund into a dedicated European Monetary Fund.
Related Topics
Recent Stories
Govt bringing reforms in energy, revenue collection, SOEs: Aurangzeb
Pakistan, New Zealand to face off in 2nd T20I match at Rawalpindi today
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 20 April 2024
Today Gold Rate in Pakistan 20 April 2024
Tennis: ATP Barcelona Open results - 1st update
Swiatek's perfect 10 in Stuttgart as Vondrousova stuns Sabalenka
Arandu's roads closed due to flooding
Oil tanker catches fire in Islamabad’s Blue Area
Pakistan committed to ensure safety of foreign nationals: FO
Tennis: WTA Stuttgart results - 1st update
Four passengers injured as train hit an empty vehicle
Over- speeding bus crushed to death two bike riders
More Stories From World
-
China issues orange alert for rainstorms
3 minutes ago -
Polyester staple fiber factory operational in Xinjiang
4 minutes ago -
New Godzilla x Kong film continues to lead Chinese box office
4 minutes ago -
42 Neolithic sites found in NE China
14 minutes ago -
Scottish independence supporters seek to inject life into faltering campaign
24 minutes ago -
Georgia's youth dominates pro-Europe street protests
44 minutes ago
-
Polyester staple fiber factory operational in Xinjiang
53 minutes ago -
China issues orange alert for rainstorms
53 minutes ago -
China's weekly coastal bulk freight index up
53 minutes ago -
U.S. stocks end mixed as fear index rises
53 minutes ago -
Three injured after chemical plant fire in U.S. Houston
53 minutes ago -
China tests new freight train with heaviest load capacity
1 hour ago