Polish Prime Minister Donald Tusk announced after the meeting that the leaders of the 27 European Union Member States had reached agreement on the recapitalisation of banks in the EU – a move that constitutes one of the elements of the anti-crisis package for the euro area.
‘We have adopted rules that we feel make it possible to conduct recapitalisation of the banks. That element of the agreement on dealing with the crisis should make it easier for the Euro Group to conduct its works tonight and in future,’ Prime Minister Tusk commented, cautioning that the agreement would only take effect after the euro-area countries worked out other components of the anti-crisis package, including the strengthening of the EFSF bailout fund.
The European Council session was followed by a meeting of the euro-area countries. ‘It is crucial that the position already adopted and the proposals now being debated by the Euro Group affirm that any measures to boost the integration of the Euro Group will not undermine the unity and integrity of the European Union as a whole,’ Prime Minister Tusk emphasised.
‘From the very outset of the debate on the financial crisis, economic governance and the need for greater integration of the Euro Group the Polish Presidency has stressed that cooperation within the Euro Group should not and must not contradict the unity of the European Union as a whole,’ the Polish Prime Minister stressed.
Prime Minister Tusk also underscored that ‘EU countries aspiring to the euro area and likely to join it in the near future should also be involved in the work of the Euro Group”.
Spokesperson for the Polish Presidency