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EU summit

June 19, 2009

European leaders have ended a two-day summit in Brussels, during which they discussed the Lisbon Treaty and financial reforms.

https://p.dw.com/p/IUr6
European Commission President Jose Manuel Barroso
Jose Manuel Barroso has been nominated to serve another five year term as European Commission presidentImage: AP

The EU summit in Brussels ended on Friday, with several important decisions taken.

Ireland has received the legal guarantees it wanted to help secure a Yes vote in the second referendum on the Lisbon reform treaty.

Irish voters will be assured that the Lisbon treaty will not influence national sovereignty in matters like neutrality, taxes or abortion laws. The next referendum is expected in October.

Germany’s Chancellor Angela Merkel was cautiously optimistic that the Lisbon treaty is closer to being ratified.

"We cannot say that all is going perfectly," Chancellor Merkel said, "but we shall continue on this path."

EU leaders also agreed on a new European financial supervisory and warning system, though individual nations' supervisors will still have the final word.

"Nine months ago, if I had said we would agree on a system of pan-EU supervision with binding powers, not one of you would have believed me," French President Nicolas Sarkozy said.

Tightening regulation of the financial industry, the EU leadership plans to set up three pan-European bodies to oversee banks, insurers and securities firms.

British Prime Minister Gordon Brown secured concessions that the new authorities’ powers would not cost the tax-payers of individual nations.

In addition to the creation of the three pan-European regulatory bodies, the reforms would aim to introduce new rules on supervision, and a new European Systemic Risk Board that would monitor risks to financial stability.

No agreement was reached on financial assistance for developing nations in their fight against climate change. The decision was delayed until the next summit in October.

The deterioration of the situation in Iran was roundly condemned, with Czech foreign minister Jan Kohout saying that order in Iran should not be maintained at any price.

Other issues discussed included the unanimous nomination for European Commission President Jose Manuel Barroso to run for another five-year term and an agreement for increased sanctions against Burma (Myanmar).

sjt/Reuters/AFP
Editor: Susan Houlton

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Listen to a report on the EU summit (19.06.2009)

englisch: onl1906 eu summit wrap - Produziert: 19.06.2009 - 18:45:28 von Hasselbach
June 19, 200902:46 min
A bus in Ireland with an advertisment for the Lisbon Treaty

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Ireland and the Czech presidency of the European Union have reached a breakthrough deal on a set of guarantees to convince Irish voters to back the bloc's stalled Lisbon Treaty, diplomats at a summit in Brussels said. (19.06.2009)
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EU leaders approve Jose Manuel Barroso for a second term as European Commission president (19.06.2009)

On the second day of a summit in Brussels EU leaders are discussing a package of guarantees the Irish government says it needs to get the Lisbon Treaty passed in a referendum. Dublin wants a protocol put into the document safeguarding its military, tax and abortion laws. EU leaders did agree in principle to new oversight guidelines for the financial sector. They also backed retaining Jose Manuel Barroso for a second term as president of the European Commission.
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