BRUSSELS (MNI) – The presidents of the European Commission and the
EU Council will meet with Germany’s Chancellor Angela Merkel in Berlin
on Monday to prepare for the informal summit of EU leaders on January
30, a Commission spokesman said on Friday.
At the summit, EU leaders will discuss the details of the fiscal
compact treaty and initiatives to boost economic growth and employment,
which they hope will convince markets of their commitment to resolve the
causes of the ongoing Eurozone sovereign debt crisis.
EU officials have been stung by criticism, including from rating
agency Standard & Poor’s — which last week downgraded the credit
ratings of nine Eurozone states — that the EU has focused too much on
fiscal austerity and not enough on growth.
While the meeting in Berlin takes place, Eurozone finance ministers
will be in Brussels attempting to hammer out the details of the fiscal
compact, including whether or not the European Court of Justice should
be able to fine countries for violating the rules.
–Brussels bureau: +324-9522-8374; pkoh@marketnews.com
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