Van Rompuy suggests Greece rescue deal less important than EU capacity to reach compromise

Addressing an almost empty European parliament on the outcome of the March 25 European Council meeting that provided a rescue package for Greece, Council President Herman van Rompuy claims that the comprise shows that the leaderships of the 27 EU countries still have the capacity to cooperate, and dispelled criticism on the meeting’s outcome. “The key point is that we reached agreement , the Union capacity to find a compromise remains intact. It is fundamental to our existence” “We stand ready should market financing prove insufficient to step in in provide support through a European lend operation of bilateral loans from the Euro area member States in cooperation with the IMF.” “We commit to promote a strong coordination of economic policies in Europe, We consider that the European Council must improve the economic governance of the EU and we propose to increase its role in economic coordination and the definition of the European growth strategy” “Let me make it very clear there is no divergence here in what we seek to achieve. We want to make full use of the European Council as the body in which we can coordinate bith the Union and National instruments to improve our economic performance. The EU COuncil is neither the executive nor the legislative power of the Union. The mission of the EU Council accoding to the Treaty is to give impetus and guidelines to the political directions of the Union” “Eduction and social inclusion give rise to some comments. they do of course …