EU summit focuses on monetary
"On the financial, I can confirm with you all the info that we have given you. That was a
subject matter of unanimity, French ceo Nicolas Sarkozy, Whose country holds the EU rotating obama
administration, Told reporters after a two day summit with his EU counterparts.
Leaders from the 15 EU countries that use the euro hammered out an action plan in a joint response
to the unfolding monetary at their first ever summit in Paris Sunday.
with those agreed measures, Eurozone authorities would, engaged on national basis, Buy into banks to
boost their finances and temporarily guarantee bank refinancing to ease the depression, that
wasthat's modeled after [url=https://moldovawomen.home.blog/moldova-culture-customs/]beautiful
moldova[/url] the British bailout package.
Europen Union leaders pose for a group photo during a european union leaders summit in Brussels
October 15, 2008. EU nations are set on Wednesday to back calls for a root and branch overhaul of
the world's financial structures in a bid to ensure no repeat of the worst credit crisis since the
1930s Great Depression. (Xinhua/Reuters snapshot)
The summit called for a revamp of the global financial system to prevent the recurrence of the
current financial crisis, Pushing for a global summit by the end of this year, French president
Nicolas Sarkozy, Who is also current EU web design manager.
women[/url] ceo George W. Bush to the summit this weekend and would also invite leaders of the
emerging economies, for example China and India, To take part in the refounding the world financial
"We all agree in Europe that we will want to re found the international financial system,
Sarkozy told editors.
No banks should be exempted from supervision, he was quoted saying.
On relations with Russia and EU eastern neighbors, The summit welcomed the departure of Russian
troops from Georgia under an EU brokered ceasefire agreement with Georgia.
But it failed to set a timetable to resume talks on a new cooperation and venture deal, But only
vaguely said in concluding: "this tool (american Council) Will be considered in the further
negotiations for a new Partnership Agreement with Russia,
The summit asked the commission and the council to carry on a full in depth evaluation of EU Russia
relations with a view to the forthcoming summit in Nov. 14 in very nice, italy.
An earlier version of in conclusion had said that talks would restart in November, But this
particular language, current EU presidency, Did not get to convince Britain, poland, Sweden and
Baltic states to realize it.
These countries have opposed to any quick move towards heating ties with Russia, Insisted that the
EU needs to ensure Russia is fully observing an EU mediated ceasefire agreement before resuming
Russia completed its pullout on Oct. 8 of troops stationed in the "barrier zones" adjacent
to Abkhazia and South Ossetia, Two breakaway parts of Georgia.
The EU suspended the talks after a Georgia Russia conflict the summertime.
On ties with eastern neighbors, the final outcome said that EU "Is managed, acquire through its
neighborhood policy, To supporting its eastern neighbors in their efforts to find economic
modernization and democratization,
The summit called for relations between the EU and the Republic of Moldova and Georgia to be
increased, Asking the European Council to conduct an initial examination of the proposals for a
future "Eastern enterprise" this EU.
On energy privacy, The leaders agreed to step up efforts to ensure that security of energy supply
for the bloc, that is a priority for the 27 member bloc.
The EU is to pursue with determination the diversification of energy sources, And develop crisis
mechanisms to accommodate temporary disruptions to supplies, Said a summation document after the
It will expedite the enactment of the European Energy Efficiency Action Plan and the Strategic
Energy Technology Plan, And finalize the legislative package on the interior market in electricity
and gas before the June 2009 elections of the European Parliament.
The EU will strengthen critical system, specially trans European energy transport networks and
liquefied natural gasterminals.
Spain's prime minister Jose Luis Rodriguez Zapatero holds a news conference at the end of a
European Union leaders summit in Brussels October 16, 2008.(Xinhua/Reuters graphic)
Particular attention will be paid to interconnections and to the connection of the most isolated
european countries, To the interface of European networks with supply national infrastructure, And
to the necessity to diversify both sources and routes.
The EU summit expressed support to the European Commission's initiative of establishing an action
plan to speed up interconnections in the Baltic region. A schedule of its work will be drawn up
until the end of this year.
it will further develop its energy relations with producer and transit countries.
for this specific purpose, A meeting of the Caspian Sea countries and transit countries will be
organized by the EU's Czech obama administration next spring.
for the stalled Lisbon Treaty, The summit listened analysis by Irish prime minister Brian Cowen on
the rejection of the treaty Lisbon by his country's voters in June, The EU leaders decided to seek
out out a solution at December's summit.
On climate change, Sarkozy said that the EU would reach a contract on its climate energy package
before the end of the year.