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President of the Government attends European Council and Eurogroup meeting in Brussels

26 October 2011

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José Luis Rodríguez Zapatero en Bruselas
EFE

The President travelled to Brussels for the European Council and Eurogroup meeting of Heads of State and Government. The meeting ended with an agreement to write off 50% of Greek debt, recapitalise the banks and increase the European Financial Stability Facility (EFSF).

The President of the Government gave a press briefing in the early hours of the morning on Thursday, 27 October, once the meeting of Eurogroup Heads of State and Government had come to an end.

José Luis Rodríguez Zapatero arrived in Brussels on Wednesday afternoon to attend the European Council, which was mainly focused on economic issues. The President of the Government summed up the meeting as follows: "We were dealing with two enormously important meetings aimed at providing stability and easing tensions in the Eurozone and offering a global response to concerns in the financial markets".

The European leaders worked towards the target of reaching an agreement on financial stability and a return to activity and growth ahead of the forthcoming G-20 summit scheduled to take place on 3 and 4 November.

The President of the European Council, Herman Van Rompuy, concluded by saying "a global agreement has been reached at the euro summit today".

The final statement from the Eurogroup meeting says that "the euro continues to rest on solid fundamentals".

After the meetings, the President of the Government of Spain spoke to the press in order to explain the agreements, as did leaders from other countries, such as the President of France, Nicolas Sarkozy, and the German Chancellor, Angela Merkel.

In his speech, José Luis Rodríguez Zapatero explained that the European leaders have recognised Spain's progress "on both reducing the public deficit and on the process of modernising reforms of the Spanish economy".


 

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