EUROPEAN COUNCIL Negotiations
Sarkozy ends his term on a high
By Simon Taylor - 18.12.2008 / 00:00 CET
French president secures climate change deal; agreement on economic stimulus package.
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© 2012 European Voice. All rights reserved.
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A meeting of European Union leaders that had been convened next week to discuss ways of promoting economic growth is shaping up instead to be a crisis summit on Greece. |
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Political uncertainty jeopardises Greece's ability to receive further instalments of international loans. |
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Foreign Minister Laurent Fabius and European Minister Bernard Cazeneuve campaigned against EU constitution. |
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PRESIDENTS Nicolas Sarkozy (left) and José Manuel Barroso. COUNCIL
Fact file
The economic recovery plan
National action
õ Must be limited in time, targeted at sectors worst affected by crisis and most important for economy (eg, automotive and construction);
õ Can include increased public spending, cuts in taxes or social security contributions, aid for companies and poorest households;
emphasis on structural reforms under Lisbon strategy.
EU-level action
õ Increase in European Investment Bank funds of €30bn in 2009-10 for small and medium-sized businesses, renewable energy and clean transport, especially automotive industry.
õ Frontloading of money from EU structural and cohesion funds and faster implementation of programmes.
õ Boosting investment in a number of sectors including broadband internet, especially in rural and remote areas;
additional action to support employment including reducing non-wage labour costs.
õ Speeding up of use of European Globalisation Adjustment Fund;
possibility of reduced VAT rates for labour-intensive services and tax incentives for green products and services.
õ Two-year exemption from need to seek approval for state aid up to €500,000.
õ Cutting length of tendering period for public procurement projects from 87 to 30 days.
Hopes of a deal on dispute resolution.
What to make of Hollande's administration.
What the summit should have focused on.
Poland appoints a new Europe minister.
