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. Following the first day of the meeting José Manuel Barroso welcomed the decisions made regarding the EU's support to Ukraine and the consequences of the annexation of the Crimea Region by Russia. The President notably declared that the European Council asked the EC to evaluate the legal consequences of the annexation of Crimea and to propose economic, trade and financial restrictions regarding Crimea for rapid implementation. He then explained that the Commission would also prepare possible targeted measures to show to Russia that some of this behaviour was simply unacceptable. On the economy José Manuel Barroso welcomed the positive news of the agreement on a Single Resolution Mechanism (SRM) for banks and the revised directive on taxation of savings.