Political consensus reached regarding EU debt crisis

  • 2011-12-12

BRUSSELS – On Dec. 9, heads of state or government of EU Member States agreed on more stringent financial discipline and saving measures needed to overcome the debt crisis in the eurozone.

President Dalia Grybauskaite underlined that a joint agreement on more stringent financial discipline reached this morning showed the EU’s united political will to assume responsibility for the future of Europe's economy as well as determination to deal promptly with the issues of the eurozone debt crisis.

“I am delighted that an absolute majority of EU Member States understand the complicated situation in which Europe’s economy is today and have made a very important step forward to enhance the fiscal and economic discipline and responsible financial behavior,” the President said.

During further discussions it was proposed to apply this agreement to 17 eurozone countries which can be joined by remaining EU Member States determined to adhere to responsible economic and fiscal policies. According to the President, this is a proof that Europe is uniting and will cooperate more closely in economic policy coordination matters.