Agreed Euro pact brings closer EU comprehensive crisis solution

Miao Xiaojuan and Liu Xiaoyan, Xinhua news agency, 12.03.2011

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Leaders of the 17-nation euro zone have agreed on a "Pact for the Euro" aimed at enhancing the bloc's competitiveness and sustainability, seen as a key element of the envisaged comprehensive package to tackle the yearlong debt crisis. [...]

Further negotiations were expected to continue until the next summit when the Euro pact and the full package would be formally adopted, according to Van Rompuy, while some experts warned that the leaders should not be complacent.

"Markets have high expectations and the crisis will re-emerge if the EU is not able to deliver sound results by the end of March," said Janis Emmanouilidis, a senior policy analyst with the Brussels-based think tank European Policy Centre.

For the entire article see here.

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