Ms Bowles said that if Europe is serious about solving the eurozone crisis, then all countries should work constructively over the coming days to find a common and achievable roadmap.
As all the other summits have shown, there are no silver bullet solutions, but the difficult decisions cannot be dodged forever.
"This time last year I said the council was in the last chance saloon; I haven't changed that view, now we're looking for resuscitation (so ho hopefully someone has brought the defibrilator!)"
"European Leaders need to find ways to alleviate the crisis on our doorstep. In addition to long-term planning we need to find a way to lower the cost of borrowing now without constantly resorting to the ESM.
"We need solutions that provide enough time for the measures that have already been taken on budgetary coordination and discipline to prove themselves. During that time we also need to put in place the building blocks for future, longer term integration and stability. This will not all happen at once and will need to be done in stages, but it can not be developed in an air of panic.
"On the positive side, eurobonds and much deeper political integration are seriously up for discussion. These are momentous decisions and I do not think it is practical to ask ordinary people to leap into long-term solutions without testing the water.
"If Europe is serious about solving the eurozone crisis then all countries should work constructively over the coming days to find a common and achievable roadmap. This will mean greater integration and coordination within the eurozone, but doors must remain open for others.
EP press release (under 'Statements from committee chairs')
© European Parliament
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