Brussels European Council with the participation of José Manuel Barroso (1st day)
José Manuel Barroso, President of the EC, and the Heads of State or Government of the EU met in Brussels for the European Council hosted by Herman van Rompuy, President of the European Council. During the intermediary joint press conference José Manuel Barroso welcomed the endorsement of the agreement on the Single Supervisory Mechanism. He emphasized that it was critically important that the Mechanism was designed to meet euro area needs but at the same time that it stayed open to all. The EC would present a proposal for the next key step – a single resolution mechanism – in 2013. The Heads of State and Government also had a very open discussion on the medium and long term elements proposed in order to deepen the Economic and Monetary Union (EMU).