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Live: EU summit on the eurozone’s future

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Live: EU summit on the eurozone’s future

EU summit family photo.jpg

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.

Deepening the Economic and Monetary Union

The 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 05:22:11

More 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 2014
European 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 2014euxtv
16 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 Šemeta
Šemeta: 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 pacteuxtv
German 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 integrationeuxtv
25 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 …

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