Live: EU summit on the eurozone's future

EU news & policy debates
- across languages -

Click here for EU news »

Monday 20 May 2013

BROWSE ALL SECTIONS

NEWS
German minister calls EU move on China solar 'grave mistake'
German Economy Minister Philipp Roesler said the European Commission made a "grave mistake" by agreeing to impose punitive import duties on solar panels from China and urged the Commission to work to prevent the eruption of a trade conflict.

News | EU energy chief says Brussels to look at fracking this year
News | Italian minister backs Hollande's call for economic government
News | Business alliance set to drive EU-US trade deal
News | Merkel denies any rift with French leader
News | Citizens in poor EU states can't afford medicines, health promoters say
Hot topics
>> more
SPECIAL REPORTS
Special Reports
>> more
LINKSDOSSIERS

Fighting alcohol harm: The EU's strategy under review
Europeans have the highest per-capita consumption of alcohol, and drinking causes nearly 1-in-10 cases of ill health and premature death. The European Commission’s informal alcohol strategy, launched in 2006, is set for a detailed evaluation in 2013, with the policy objective of reducing the health and social harm caused by excessive alcohol consumption.

LinksDossier | Agenda for Change: EU’s helping hand gets an overhaul
LinksDossier | Italian elections 2013: A nation at a crossroads [Archived]
LinksDossier | Euroscepticism: More than a British phenomenon
LinksDossier | Cloud computing: Leveraging the digital economy
LinksDossier | Cybersecurity: Protecting the digital economy
INTERVIEWS

Gas industry chief: We cannot wait for a more ambitious energy policy
The 22 May EU summit dedicated to energy issues should clearly transform the prevailing talking mode in the energy and climate framework into action mode, Jean-Claude Depail, tells EurActiv.

Interview | UNESCO envoy: Cultural action is key for Mali’s reconstruction
Interview | James Hansen: We are on the verge of creating climate chaos
Interview | WIFO director: Austerity should be complemented with a 'Social Pact'
Interview | Thumann: EU must cut green tape to boost industrial competitiveness
Interview | Reseacher: How to overcome the EU apprenticeship gap
OPINIONS

Europe's accidental promotion of black-market alcohol
As production and sales move underground, governments lose their ability to regulate, assess and control alcohol distribution. This can result in serious public health risks, especially for the poorest and heaviest drinkers, writes Marjana Martinic.

Opinion | Opening public data boosts economy as well as transparency
Opinion | Imagine a different European election
Opinion | Smartphone Armageddon: Patents undermine the tech industry
Opinion | Back to the future with shale gas
Opinion | Why the World Needs a Stronger Europe
BLOGS

EU Privacy and the Cloud: Consent and Jurisdiction Under the Proposed Regulation
Cloud computing allows dramatic flexibility in information processing—and on a global basis. Its technology permits data transmissions that span th..

Blog | Sweden should follow the Baltic lead and join NATO
Blog | A never-ending story of obsession
Blog | EU Privacy and the Cloud: Consent and Jurisdiction Under the Proposed Regulation
Blog | What can young people do for Europe?
Blog | The Commissioner will sue David Cameron for the way he treats the Poles
VIDEOS

^-A ⁺A

Published 13 December 2012

1 comment

Tags

banking union, economic and fiscal union, Economic and Monetary union, EMU

EU heads of states are meeting in Brussels on 13-14 December to hammer out an agreement on banking supervision and set out a longer-term roadmap to deepen the eurozone's economic and political integration. A new round of treaty changes and a dedicated budget for the eurozone are all on the agenda.

View the story "Deepening the Economic and Monetary Union" on StorifyDeepening the Economic and Monetary UnionThe European Summit on Dec. 13-14 aims to set out a roadmap to deepen the Economic and Monetary Union and bring together short-term plans for a banking union with long-term plans for a, fiscal, economic and political union in the euro zone. Storified by EurActiv.com · Wed, Dec 12 2012 05:22:11More EurActiv coverage on the Banking Union and the Fiscal Union. 12 December : An impasse over plans for the European Central Bank to supervise banks takes centre stage today (12 December) at a finance ministers' meeting that precedes the EU leadership summit on Thursday and Friday.Banking supervision takes centre stage ahead of EU summitAt a summit in October, EU leaders agreed plans to complete the European banking union by January 2014, after the general elections in Ge...11 December : 'Groping for government' - Opinion piece by Andrew Duff MEPThe leaders (or most of them) make their way from the high Nobel rhetoric at Oslo to the low cunning of the meeting of the European Council in Brussels this Thursday and Friday. This is a more important summit than usual because it is supposed to take the definitive decisions to install the triptych of banking union, fiscal union and political union, first outlined by Herman Van Rompuy in June. The goal is ‘Genuine Economic and Monetary Union’ ‑ not to be confused with the actual Economic and Monetary Union, in whose pursuit we have been since the Treaty of Maastricht was negotiated in 1991.
Andrew Duff MEP - On Governing Europe " Blog Archive " Groping for governmentThe leaders (or most of them) make their way from the high Nobel rhetoric at Oslo to the low cunning of the meeting of the European Counc...10 December : German Finance Minster Wolfgang Schäuble has signalled a readiness to compromise on the EU's planned banking union and said leaders are working intensively to agree on a legal framework by Christmas, German media reported.Schäuble ready to compromise on banking unionAt a summit in October, EU leaders agreed plans to complete the European banking union by January 2014, after the general elections in Ge...6 December : Ahead of an EU summit next week, European Council President Herman Van Rompuy has tabled proposals to deepen the Economic and Monetary Union, fleshing out plans for a two-tier Europe with the eurozone at its core.Van Rompuy fleshes out plans for two-tier Europe, eurozone budgetAt an EU summit in October, EU leaders were presented with an interim report by European Council President Herman Van Rompuy, which chart...4 December : EU finance ministers preparing to meet in Brussels today (4 December) were close to striking a deal on a single European bank supervision system, keeping the proposed new banking union machinery on track to be in place by the start of 2013, EU officials said.Finance ministers 'very close' to agreement on banking unionAt a summit in October, European Union leaders agreed plans to complete the European banking union by January 2014, after the general ele...29 November : José Manuel Barroso, president of the European Commission, has tabled a blueprint for deeper economic and monetary union in the eurozone, saying a more federal Europe is the only way to address the root causes of the sovereign debt crisis.Barroso lays out 'ambitious vision' for the eurozoneAt an EU summit in October, EU leaders were presented with an interim report by European Council President Herman Van Rompuy, which chart...29 October : European Central Bank Chief Mario Draghi backed a proposal by German Finance Minister Wolfgang Schäuble to radically expand the powers of the European Union's monetary affairs commissioner, giving Brussels greater control over member states budgets.Draghi backs Germany's call for 'currency commissioner'German Chancellor Angela Merkel has insisted on achieving fiscal union in the eurozone - and centralised EU oversight over national budge...19 October : French President François Hollande sought to reassure Britain and other non-eurozone countries that plans to establish a special budget for the currency bloc will only come "in addition" to the EU budget and not "in substitution" of it. But he also warned: No country can prevent the others from moving forward.Hollande: Eurozone budget will come 'in addition, not in substitution' of EU budgetSeveral countries would like a special budget for the eurozone, with France, Germany and others backing the idea, according to EU diploma...18 October : EU summit deal aims for full 'banking union' in 2014European Union leaders have agreed plans to complete the European banking union by January 2014, after the general elections in Germany. The concession was made to Angela Merkel who argued for "quality" over "speed" in putting in place the new supervisory system.EU summit deal aims for full 'banking union' in 2014Independent specialised European Union affairs portal for EU policy professionals. Expert EU policy journalists follow a wide range of Eu...EU summit deal aims for full 'banking union' in 2014euxtv16 October : German Finance Minister Wolfgang Schäuble has called for a great leap forward in European integration ahead of a summit of EU leaders, urging the creation of a new commissioner with power over budgets and reform of European Parliament decision-making.Schäuble urges big leap forward on 'fiscal union'German Finance Minister Wolfgang Schäuble has called for a great leap forward in European integration ahead of a summit of EU leaders, ur...12 September : EurActiv interview with European Commissioner ŠemetaŠemeta: Fiscal union involves tax cooperationeuxtv

28-29 JUNE - EU Summit Storify - Towards a genuine EMU

The discussion on the Interim report on finalising the economic and monetary union is the key point on this week's EU Summit agenda. The final report and roadmap for further economic and monetary union are to be adopted by EU leaders at another Brussels' summit, scheduled for 13-14 December 2012.

EU Summit - Towards a genuine EMUThe discussion on the Interim report on finalising the economic and monetary union is the key point on this week's EU Summit agenda. The ...Merkel: Growth and employment pact is first on agenda, then fiscal pacteuxtvGerman Chancellor Angela Merkel will pit herself against France and Italy today at an EU summit that could shape the eurozone's future, insisting they must put the bloc's fundamental problems ahead of pleas for emergency action.Merkel insists on fiscal union before debt sharingOn the eve of the EU summit, Merkel brushed aside demands from Italy and Spain for rapid action to lower their soaring borrowing costs, a...26 June : José Manuel Barroso, European Commission president, has called on EU heads of state to "articulate the vision of where Europe must go" at a summit this week, saying this could lead to further treaty changes and, eventually, a two-speed Union. EurActiv reveals details of proposals that will be circulated among EU leaders on 28-29 June.Barroso lays ground for future EU treaty changeJosé Manuel Barroso, European Commission president, has called on EU heads of state to "articulate the vision of where Europe must g...Summit to set path towards greater EU integrationeuxtv25 June : European leaders will discuss specific steps towards a cross-border banking union, closer fiscal integration and the possibility of a debt redemption fund at a summit on 28-29 June, according to a document prepared for the meeting.EU leaders to ponder banking and fiscal union at summitEuropean Commission President José Manuel Barroso has said he will propose a roadmap and "calendar" for more European integration at the ...

EurActiv.com

COMMENTS

Until the EU addresses the absurd system of individual VETOS of routine matters its hands are effectively tied and it is trying to walk on only one leg.

The "budget" is the prime example; raising money and spending it on those matters that are of CENTRAL'S responsibility needs to be a matter for the EU PARLIAMENT to be responsible DIRECTLY to VOTERS who DIRECTLY elect the MEMBERS independently from the various nation/states.

Of course the nation-states have a say in what powers they cede to Central and amendments are with those states but even there something on the order of 2/3s of the states with 60% ought to suffice.

Naturally any further "expansion" needs to be officially on hold until this abomination is corrected. Going from 27 possible vetos to 35 or more would only make matters worse.

The EU needs to be honest about this problem, particularly with those who espress an interest in joining EU; to date this has not been the case!

By :
david tarbuck
- Posted on :
14/12/2012
Flag as abusive

Français

Photo: The Council of the European Union

Background:

At a summit in October, EU leaders have agreed to complete the European banking union by 2014, and to hammer out the legal framework by the end of 2012.

>> Read: EU summit deal aims for full 'banking union' in 2014

At their December meeting, EU leaders are now expected to agree on a "specific and time-bound roadmap" for deepening the eurozone's economic and monetary integration.

Their discussions will be based on a report by Herman Van Rompuy, European Council President.

>> Read: Van Rompuy fleshes out plans for two-tier Europe, eurozone budget

EU Commission President José Manuel Barroso put forward his own blueprint the week before.

>> Read: Barroso lays out 'ambitious vision' for the eurozone