While the agreement is clearly an important step forward, BUSINESSEUROPE urges Member States, the Council and the Commission to finalise the details of the new agreements quickly, ensure their legal implementation, and establish their credibility in practice.
BUSINESSEUROPE supports the agreement by euro area leaders to reinforce the euro through both the introduction of a new ‘fiscal compact’ to increase budgetary discipline in Member States and improvements in the capacity and flexibility of the EFSF/ESM. Both of these developments are in line with the statement it published this week: "Businesses’ Plan to Safeguard the Euro".
Press release
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