Van Rompuy Statement ‘ Our Strategy for the Euro Area’

European Council President Herman van Rompuy releases “Our strategy on Euro Area’ statement as Europe’s recovery is strained by increases market tensions, the threat of contagion, and the huge exposure of European banks to the insolvent Irish banking sector. Mr van Rompuy describes the current situation of the Euro area as a paradox, in that some countries are seeing improved conditions in the real economy, while international markets are still unconvinced by fiscal correction measures taken.