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Eurozone `agrees in principle` on policy co-ordination
Date 11/03/2011 23:38  Author webmaster  Hits 1076  Language Global
11 MAR 2011

BBC

Eurozone leaders have reached an agreement in principle on a pact to co-ordinate economic policies, EU President Herman Van Rompuy has said.

Other elements of the package were still under discussion, he added.

Eurozone leaders are in Brussels to try to find a way out of the debt crisis that has dogged the region for more than a year.

Earlier, Greek Prime Minister George Papandreou had called for Europe to take "strong decisions".

In a message on Twitter, Mr Van Rompuy had initially said: "We have an agreement on the Pact for Euro."

The message was later amended to: "Update from ongoing meeting: Agreement in principle on the Pact for the Euro, but still discussing the other elements of the package."

A pact would give members a say over each other's major economic policies - a move aimed at keeping countries under firm fiscal discipline.

Any agreement would need to be endorsed at a summit of all 27 EU states on 24-25 March.

Read entire article

See also:

EU in pact on pay, tax and pensions to safeguard euro (BBC)