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EU Response to the economic and financial crisis - January 2012

The economic crisis has prompted intense and sustained action by the EU's national governments, the European Central Bank and the Commission. All have been working closely together to support growth and employment, ensure financial stability, and put in place a better governance system for the future.

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Key events

Treaty on Stability, Coordination and Governance in the Economic and Monetary Union

06/02/2012

Treaty on Stability, Coordination and Governance in the Economic and Monetary Union (31/1/2012)

 

Statement of the members of the European Council 30 January 2012 - Towards growth-friendly consolidation and job-friendly growth

06/02/2012

Statement of the members of the European Council 30 January 2012 - Towards growth-friendly consolidation and job-friendly growth,  30/1/2012,  English  / Other languages

 

Press remarks by President Van Rompuy following the informal meeting of members of the European Council

06/02/2012

English  / Other languages

"The Treaty is all about more responsibility and better surveillance. Every country that signs it commits to bringing in a "debt brake" or "golden rule" into its own legislation, and will do so at constitutional or equivalent level. New voting rules and an automatic correction mechanism will enforce compliance more effectively...The treaty will enter into force once 12 euro countries have ratified it."

 

Informal European Council - Agreed lines of communication by euro area Member States

06/02/2012

Agreed lines of communication by euro-area Member States - Brussels, 30 January 2012,  30/1/2012,  English  / Other languages

 

Statement of President Barroso following his meeting with Elio Di Rupo

27/01/2012

''First of all - even if we met even before - the first time I can express to the press that I am pleased that Belgium has a government and I congratulate the Prime Minister for having accomplished this task - we all know - was not easy.''

 

Statement by the President of the European Commission following his meeting with the Presidents of European political parties

26/01/2012The President of the European Commission José Manuel Barroso met today at the Berlaymont the President of European People's Party Wilfried Martens, President of the European Socialist Party, Sergei Stanishev, the President of the European Liberal Democrat and Reform Party, and Sir Graham Watson the co-chairs of the European Green Party, Monica Frassoni and Philippe Lamberts. Mr Barroso was accompanied by Vice President Maros Sefcovic. 
Preparation of Eurogroup and Economic and Finance Ministers (ECOFIN) Council in Brussels, 23-24 January 2012

Preparation of Eurogroup and Economic and Finance Ministers (ECOFIN) Council in Brussels, 23-24 January 2012

23/01/2012

Background information and agenda for the meeting, which will include discussions on the implementation of the stability and growth pact, the Commission's two proposals on economic governance, and the state of play in Greece.

 
Statement by the EC, ECB, and IMF on the Review Mission to Ireland

Statement by the EC, ECB, and IMF on the Review Mission to Ireland

19/01/2012

The teams’ assessment was that the programme is on track, although challenges remain and continued steadfast policy implementation will be vital

 

Speech by President Barroso on the international agreement - European Parliament, Strasbourg

18/01/2012"The Euro area must be strengthened, yes, but not at the expense of the wider Union. The introduction of parallel structures would embed divisions that could jeopardise the Union and also jeopardise the single market and therefore the future viability of the Euro itself."

 

 

Speech by President Barroso on the Danish Presidency of the Council of the European Union

18/01/2012

Remarks at the European Parliament plenary debate on the start of the Danish Presidency.

 
Special Meeting of the European Bank Co-ordination “Vienna” Initiative

Special Meeting of the European Bank Co-ordination “Vienna” Initiative

17/01/2012

Public sector officials from the European Bank Coordination "Vienna" Initiative met in Vienna to enhance the co-ordination of national policies that could impact Europe's emerging economies

 
Statement by Vice-President Olli Rehn on the decision by S&P concerning the rating of several euro area Member States

Statement by Vice-President Olli Rehn on the decision by S&P concerning the rating of several euro area Member States

13/01/2012

Mr Rehn regretted the decision by the ratings agency, describing its decsions as inconsistent at a time when "the euro area has taken decisive action in all fronts of its crisis response...more"

 
Commission publishes EDP report on Belgium, Cyprus, Hungary, Malta and Poland

Commission publishes EDP report on Belgium, Cyprus, Hungary, Malta and Poland

11/01/2012

The report concludes that although Belgium, Cyprus, Malta and Poland have taken effective action to correct their deficits, Hungary has not.

 
Speech by Vice President Olli Rehn on Eurobonds: Stability and Growth for the Euro Area

Speech by Vice President Olli Rehn on Eurobonds: Stability and Growth for the Euro Area

11/01/2012

Mr Rehn stressed that stability Bonds can provide substantial benefits, even for countries with currently high credit ratings, although serious economic, legal, and technical challenges remain.

 
EU successfully issues long-term bond with 30 year maturity, funding loans of € 3 billion for Ireland and Portugal

EU successfully issues long-term bond with 30 year maturity, funding loans of € 3 billion for Ireland and Portugal

09/01/2012

The operation was carried out by the European Commission on behalf of the EU under the European Financial Stabilisation Mechanism (EFSM).

 

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