22 SEP 2010
By Valentina Pop
EUOBSERVER / BRUSSELS – EU council president Herman Van Rompuy on Wednesday (22 September) defended the working speed of his taskforce set up to look at legal ways to strengthen economic co-ordination among member states in order to avoid another sovereign debt crisis.
"Although some have claimed that our work on this is slow, we have in fact covered an enormous amount of ground in a very short time," Mr Van Rompuy told MEPs during a hearing on the outcome of last week's summit.
He added that in his view, progress on updating rules on economic governance was happening "very quickly" when compared to the negotiations establishing the 1997 Stability and Growth Pact, which laid down the ground rules for the eurozone.
In the run-up to the summit, several EU diplomats cast doubts that Mr Van Rompuy's taskforce would make any headway in the coming months. "Van Rompuy has probably already achieved what he expected to achieve in terms of the European semester," one source said, referring to the new six-month budget review period agreed by finance ministers two weeks ago.
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