The Treaty on Stability, Coordination and Governance signed
At the signing ceremony President Barroso stated: "Allow me to congratulate the Heads of State or Government who are signing the Treaty. The fact that the contracting Member States agreed to respect the Commission's central role in delivering the agreement's objectives guarantees coherence with the Lisbon Treaty and the Community method. The Commission warmly welcomes the fact that the agreement remains open to all, as well as the Treaty commitment to incorporate its substance into EU primary law within five years at the latest." He continued: The euro is not just a currency of some countries; the euro is the currency of European Union. Through their formal commitment at the Treaty level to increase the discipline and convergence, the Member States are showing that from monetary union we are now progressing towards a true economic union. The President concluded by expressing his belief that "Together with other treaty or legal instruments from the six-pack to the ESM, from the Europe 2020 Strategy for growth and jobs to the structural funds, we will succeed in combining stability and growth. And in doing so we will build a stronger union and better respond to the aspirations of European citizens."