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09 December 2011

Remarks from Herman Van Rompuy following the meeting of the European Council


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ユーロ圏17か国とその他多くの国が既に、欧州の新たな財政規則である「財政規律条約」への参加を表明し、各国の議会で批准される見込みである。財政規律の強化、制裁の自動発動、義務達成の監視の強化、が柱となっている。


An intergovernmental Treaty will make this agreement binding. In combination with secondary legislation and the firm political commitments, this will give the Fiscal Compact its full force. Moreover, this Treaty will be open to non-eurozone countries. Except for one, all are considering participating.

Of course, the European Parliament will be associated in this process. The objective remains to incorporate these provisions into the EU Treaties as soon as possible. As regards the calendar, I see two steps:

  • Rather rapidly, following consultations with national parliaments, we should know the number of participating states. I am optimistic because I know that it is going to be very close to 27. In fact, 26 leaders are in favour of joining this effort. They recognise the euro is a common good.
  • Then, early March at the latest, this Fiscal Compact Treaty will be signed but, it could be earlier also.

The ESM Treaty will be finalised in the coming days. It will integrate yesterday's important decision that we change the approach to the Private Sector Involvement, bringing it fully in line with IMF principles and practices. The aim is for the ESM Treaty to be ratified by mid-2012.

Press release



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