Europe

Europe

EU delays its summit to Oct. 23

10 October 2011 18:00 (UTC +04:00)

Baku-APA. Herman Van Rompuy, the President of the European Council, on Monday decided to delay the Council meeting and the eurozone summit by a week, APA reports quoting Xinhua.

"After a round of consultations last week and over the weekend, with the Presidents of the Commission and the Eurogroup, on developments in the Euro area, I have decided to convene the European Council and the Eurozone Summit a week later on Sunday 23 October," Van Rompuy said in a statement.

"This timing will allow to finalize our comprehensive strategy on the euroarea sovereign debt crisis covering a number of interrelated issues," he added.

The two summits were originally scheduled for October 17 to 18.

"Further elements are needed to address the situation in Greece, the bank recapitalization and the enhanced efficiency of stabilisation tools (EFSF)," Van Rompuy said.

He said those elements were closely related to the outcome of the troika mission of the EU, the Internatinal Monetary Fund and the European Central Bank, to Greece.

Van Rompuy also asked the Polish Presidency and the President of the Eurogroup, to convene an economic and financial council (ECOFIN) and a Eurogroup meeting ahead of the European Council.