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European Union leaders meet for special economy summit ;

February 11, 2010 - BRUSSELS

European Union President Herman Van Rompuy chairs a special EU economic summit that will look for ways to bring the bloc back from the brink. As the EU's 10-year economic strategy expires in 2010, the leaders also need to discuss a replacement. Spain, EU rotating president from Jan 1 to Jun 30, wants to see new banking and other rules in place to prevent another economic meltdown. The challenge is finding ways to stimulate growth without exacerbating unemployment or undermining the bloc's social security system.

The economic plan bringing Europe to 2020 is likely to focus on the need for green technologies, education tailored to industries' needs and greater research, according to the Spanish presidency. To prevent another economic meltdown in the bloc, Spain wants to see rules for the supervision of banks, insurers and trading exchanges and agencies in place before its EU presidency ends on Jun 30. Jan/10

Spain to Push New Europe Economic Plan (Business Week/EU Observer 10 Dec 2009)

Date written/update: 2010-02-11