Discover the World News Forecast . . . FIRST in Foresight Journalism

EU leaders meet to tackle postponed economic goals

June 24, 2011 - BRUSSELS

Decisions on economic reforms in the eurozone and on boosting the bloc's bailout facility await European Union leaders at the last summit of the Hungarian presidency. A Mar 2011 EU economic summit was billed as the deadline for the decisions, but they were postponed to June. The leaders must also tackle the implications of the turmoil in North Africa. Waves of migrants have swamped Italy and Malta. Rome accuses EU partners of abandoning it in its battle against clandestine immigration. The goals include boosting guarantees for the European Financial Stability Facility, a temporary bailout fund, and finalizing details of the European Stability Mechanism (ESM), a permanent fund. According to Euractiv, recent political developments in Portugal, Finland and Germany put the goals in jeopardy. Germany has announced it would not be able to provide the first of three tranches to the ESM in 2013, the year in which the partners are supposed to fund the ESM.

; Decisions on economic reforms in the eurozone and on boosting the bloc's bailout facility await European Union leaders at the last summit of the Hungarian presidency.A Mar 2011 EU economic summit was billed as the deadline for the decisions, but they were postponed to June. The leaders must also tackle the implications of the turmoil in North Africa. Waves of migrants have swamped Italy and Malta.Rome accuses EU partners of abandoning it in its battle against clandestine immigration. ; The goals include boosting guarantees for the European Financial Stability Facility, a temporary bailout fund, and finalizing details of the European Stability Mechanism (ESM), a permanent fund. According to Euractiv, recent political developments in Portugal, Finland and Germany put the goals in jeopardy.Germany has announced it would not be able to provide the first of three tranches to the ESM in 2013, the year in which the partners are supposed to fund the ESM ; Euractiv reports that leaders are set to agree on the so-called six-pack of economic reforms that have been thrashed out since Feb 2010. They include measures to police debt and imbalances and punish countries who infringe agreed ceilings on both. Leaders are also expected to discuss a raft of proposals to boost their national competitiveness, such as raising pension ages, restructuring fiscal policy and engraving debt ceilings into their national law. ; Thousands of Egyptians, Tunisians and Libyans have landed on the Italian island of Lampedusa, near Tunisia, overwhelming the facilities. Under pressure from anti-immigrant coalition allies, Prime Minister Silvio Berlusconi has promised that all of the migrants would be deported or transferred to the mainland within days. EU countries have shown no sign they are ready to open the doors to the migrants, so clashes can be anticipated. (WRITTEN APR 2011) ;

; EU commission condemned for its response to migrant crisis (The Parliament 23 Mar 2011)

; European Union raps France over immigration 'Non' (AFP 1 Apr 2011)

; EU leaders to delay eurozone rescue deal (Euractiv 24 Mar 2011)

Date written/update: 2011-06-24