The EU Heads of State or Government will meet in Brussels on 8-9 December to discuss the economic situation in Europe. The European Council will also discuss energy issues and ways to promote growth. Prime Minister Jyrki Katainen will represent Finland at the meeting.
The European Council meeting will be prepared at the General Affairs Council convening in Brussels on 5 December. Minister for European Affairs and Foreign Trade Alexander Stubb will represent Finland at the General Affairs Council. Foreign Minister Erkki Tuomioja will attend the meeting when it is dealing with enlargement. In addition to preparatory work on the European Council, the General Affairs Council will discuss the proposal for the EU's multiannual financial framework 2014-2020 and EU enlargement on the basis of the annual enlargement package.
In line with the June and October European Councils, the December meeting will focus on economic growth and measures to support employment in the EU countries. Special attention will be paid to Internal Market sectors with the strongest growth potential, such as the Digital Single Market.
The European Council will examine President Herman Van Rompuy's proposals on ways to strengthen the economic union, improve fiscal discipline and deepen the euro area's integration. The debate will concentrate on the possibility of limited Treaty changes or corresponding arrangements. The President’s proposals are based on the mandate he was given in the October meeting
Finland considers it important that the legislative package on economic governance, 'the Six Pack', be implemented without delay. Finland is also in favour of strengthening the Commission's role but, at the same time, it is necessary to have multilateral surveillance among the Member States. Finland finds it important that the Commissioner for Economic and Monetary Affairs has an independent role within the Commission.
Discussion on energy issues will be based on the guidelines adopted at the February European Council. Progress will be assessed in the areas of energy efficiency, the internal energy market, energy infrastructure and the external dimension of energy policy.
Under other items, the European Council will discuss enlargement, with special focus on Serbia's road towards membership, and it is also likely to take another look at the enlargement of the Schengen area. Finland considers it important that the enlargement process proceed in line with the consensus reached in 2006 and that the EU adhere to its commitments. In issues concerning enlargement, Finland places particular emphasis to the respect of the rule of law.
Eurozone finance ministers are streaming into Brussels on Tuesday in a desperate bid to save the 17-nation euro currency — and to protect Europe, the US, Asia and the rest of the global economy from a financial crisis.
The meeting is set to fix details of leveraging the European Financial Stability Fund (EFSF) so it can help Italy or Spain should they need aid. Ministers are also likely to approve the next installment of emergency loans for Greece and Ireland.
Most officials agree that, in the race to save the euro, there is no time to lose.
US President Barack Obama">Obama pressed EU officials on Monday to act quickly and decisively to resolve the debt crisis, which the White House said was weighing on the American economy.
White House spokesman Jay Carney said: “Europe needs to take decisive action, conclusive action to handle this problem, and that it has the capacity to do so.”
Mario Monti, Italy’s prime minister and finance minister, will explain in the meeting the reforms Italy plans to undertake to regain the confidence of markets.
Saddled with debt equal to 120 percent of GDP and soaring borrowing costs, Italy has been battling to avoid financial disaster, which analysts say would endanger the whole euro zone.
The European Central Bank (ECB) is now buying bonds of Spain and Italy on the market to prevent their borrowing costs running out of control. It urged euro zone ministers to finalize the EFSF leveraging quickly.
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