European Union heads of state or government unanimously re-elected Herman Van Rompuy as president of the European Council for a second term of two and a half years from June 2012 to November 2014.
Wer Macht hat, hat auch eine Verantwortung – kurz gefasst war das die Rede gestern des Praesidenten des European Council, als er den Deutschen sagte, sie spielten dank ihres Vermoegens “eine besondere Rolle” in Europa.
Italy could be downgraded by a further two notches, said a senior Fitch Ratings director in Milan. Fitch had earlier said that it could cut Italy’s rating at the end of January.
The politicians in Rome are getting restive, raising concern about the continued survival of the reforms being introduced by the new government. Separately, Italy has been described as the frontline for the battle to save the euro because, unlike the peripheral economies of Greece, Portugal and Ireland, Italy is too big to bail out.
Herman Van Rompuy, president of the European Council, defends the decisions made by the majority of euro area leaders at the December 9 summit, while acknowledging the negotiation of an intergovernmental treaty to make the fiscal compact binding “will not be easy”.
Listen to extracts of the preliminary remarks by Herman van Rompuy, president of the European Council, on the intergovernmental treaty.
European leaders have abandoned plans for bondholders to bear the brunt of sovereign debt collapses, following talks overnight to tackle the eurozone crisis.
Herman Van Rompuy, president of the European Council, underlines the key agreements made at the first session of the European Council, including a new approach to private sector involvement and a fiscal compact for the eurozone.
President of the European Council Herman Van Rompuy criticises certain countries’ tendency to forget growth in the Eurozone is a global responsibility, while encouraging the developed world to better engage the BRIC economies.
His speech was given at the University of Zurich for its 2011 Special Winston Churchill Lecture.
Jubilatory headlines are dominating the British media but the French press has adopted a more sober tone on the deal clinched by Eurozone leaders on October 27 amid fears that seeking investment from China will lead to negative repercussions for the Eurozone.
France might lose its AAA rating and the heads of the European Union lack leadership, Eric Le Coz (pictured), deputy managing director of French group Carmignac, has declared.
European Council president Herman Van Rompuy has praised efforts to ensure the financial stability of the Euro area, in particular the enhancement of the European Financial Stability Fund, but cautioned that further measures must be taken.