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First 2012 EU Summit to kick off

01-30-2012 13:53 BJT

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Greece will certainly be one of the dominant topics discussed in the first EU summit of 2012. European heads of state and government are set to meet in Brussels at 10 P.M. Beijing time tonight to talk about not only Greece, but the continent’s permanent bailout fund and the new fiscal treaty as well.

EU leaders are expected to officially sign off on the European Stability Mechanism, which will replace Europe’s temporary bailout fund, and agree to a balanced budget rule in the national legislation of participating EU countries.

The summit will also shift to focus more on creating jobs and boosting growth, something that’s been overlooked with all the talks about fiscal tightening and austerity measures.

There’s talks that the summit will announce 20 billion euros of unused funds from the EU’s 2007-2013 budget to be redirected towards job creation, especially amongst the young and will commit to freeing up bank lending to small and medium sized companies.


Editor:Zhang Rui |Source: CNTV.CN

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