Feira Summit concludes Portuguese Presidency

Union leaders will be assessing the progress made on several important issues during their Feira Summit on 19-20 June.

Union leaders will be assessing the progress made on several important issues during their special Feira Summit from 19-20 June. The 15 heads of state will get reports on the state of play on crucial topics like institutional reforms (IGC), defence, enlargement, savings tax, food safety and the Charter of Fundamental Rights.

On the eve of the Summit, finance ministers made substantial progress on the controversial issue of an EU-wide savings tax. Only two countries (Luxembourg and Austria) still seem to oppose the compromise paper by the Portuguese presidency, which gives priority to an information-exchange system with tax authorities in non-residents' home countries. Countries could still withhold tax on non-resident savings, but there would be a two-year delay of entry into force of this legislation.

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