EU summit to tackle debt crisis

Date: Thursday 28 Jun 2012

The summit of the European Council will start this afternoon at 14:00 London time and last until tomorrow; European leaders will be looking to tackle the sovereign debt crisis as they work towards a plan for tighter integration.

However, the two “teams” continue to butt heads. All signs suggest that France, Italy and Spain have organised their game play to fight for growth, while their respective leaders - François Hollande, Mario Monti, and Mariano Rajoy - continue to push for the famous eurobonds. However, on the opposite team, German Chancellor Angela Merkel continues to shout “nein” to the idea of jointly-issued European debt.

In any case, “the European Council will focus on economic policy, adopting a compact for growth and jobs and endorsing country-specific recommendations on the member states’ economic and fiscal policies,” according to background statement published today.

According the summit agenda, the first press conference is scheduled after today’s working session (that will begin at 15:15) and before the working dinner. On Friday, two press conferences are scheduled. The first is planned to follow the second working session (beginning at 09:00) while the last press conference will follow the working lunch.

JM

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