Arab Today, arab today eu leaders agree on measures to boost growth build banking union
Last Updated : GMT 10:10:23
Arab Today, arab today
Arab Today, arab today

EU leaders agree on measures to boost growth, build banking union

Arab Today, arab today

Arab Today, arab today EU leaders agree on measures to boost growth, build banking union

Brussels - XINHUA

European Union (EU) leaders on Thursday and Friday have agreed on a series of measures to boost growth and jobs, and to build a European banking union to maintain financial stability. \"It\'s been a productive summit,\" Herman Van Rompuy, European Council President, told reporters at a press conference after a meeting of EU leaders. According to Van Rompuy, EU leaders have agreed to scale up the Youth Employment Initiative to eight billion euros (about 10.4 billion U.S. dollars), with most of the money concentrated in the first two years. To promote jobs for youths, any funds left unspent in the Initiative will go in priority to employment, he added. Small and medium-sized enterprises (SMEs) would also benefit from the summit in the form of easier access to financing. \"To help millions of SMEs, the biggest employers in our countries, get through the credit crunch in some countries, we will combine funds from the EU budget and the European Investment Bank,\" Van Rompuy said. This meeting was also devoted to long-term structural reforms, which are key to make the EU economy more resilient and more competitive globally. The leaders also discussed ideas to overcome bottlenecks to competitiveness, growth and jobs. One of the proposals is to \"conclude contracts between a member state and the EU institutions and potentially associated with solidarity mechanisms,\" he said. \"This is still uncharted territory, but we identified some principles, on which there are convergences,\" Van Rompuy said. The European Council President also hailed progress in restoring financial stability. \"We have halved public deficits, we\'re now equipped to deal with financial turmoil and we\'ve committed ourselves to a long-term roadmap to reinforce our Economic and Monetary Union (EMU) for the future.\" He pointed to the efforts to build a banking union as the key step in reinforcing the EMU and restoring normal lending to the economy. As a crucial step in setting up the banking union, EU finance ministers on Thursday morning agreed to harmonize \"recovery and resolution rules\" for all EU member states to deal with failed banks. \"In fact this is a bridge towards the Single Resolution Mechanism for banks, to which all leaders are firmly committed. We\'re looking forward to the Commission proposal very shortly, to be adopted within a year by the end of this parliamentary term,\" Van Rompuy said. To break the vicious circle between banking crisis and sovereign debt crisis, eurozone finance ministers last week also agreed on the main features for direct recapitalization of banks in trouble. \"This is another bridge towards the banking union. So the bridges are ready or under construction, and we\'re getting set to cross over, starting with the transition towards the Single Supervisory Mechanism for all eurozone banks in 2014,\" Van Rompuy said.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eu leaders agree on measures to boost growth build banking union Arab Today, arab today eu leaders agree on measures to boost growth build banking union

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 05:20 2017 Thursday ,23 February

WTO ratifies first multilateral trade deal

GMT 21:36 2017 Wednesday ,22 February

Opec needs to prolong cuts to eliminate surplus

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday