Euro summit

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Not to be confused with EU summit. ‹See Tfd›
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The Euro summit (also referred to as the eurozone summit or euro area summit) is the meeting of the heads of state or government of the member states of the eurozone (those EU states which have adopted the euro). It is distinct from the EU summit held regularly by the European Council, the meeting of all EU leaders.

History[edit]

The Euro summit began as an off shoot of the Euro Group, which is the meeting of the eurozone member's finance ministers.[1] French President Nicolas Sarkozy called for the Euro summit to replace the Euro Group as a "clearly identified economic government" for the eurozone, stating it was not possible for the eurozone to continue without it. The eurozone economic government would discuss issues with the European Central Bank, which would remain independent.[2] Sarkozy stated that "only heads of state and government have the necessary democratic legitimacy" for the role. This idea was based on the meeting of eurozone leaders in 2008 who met to agree a co-ordinated eurozone response to the banking crisis.[3]

They first met in the summit format in October 2008, in response to the debt crisis. Subsequent meetings took place in March 2010, May 2010, March 2011, July 2011 and October 2011.[1] In the October 2011 meeting, it was agreed to formalise the Euro summit, as at least twice yearly meeting, via a possible new treaty change. A Euro summit President, separate from the Euro Group President, would be elected at the same time as the President of the European Council and under the same rules. Until such an election takes place, the European Council President fulfils that role.[4][5]

Meetings[edit]

In October 2011, the Eurozone head of states agreed to increase meeting activity to at least two times per year, as part of measures to improve governance of the Eurozone. Meetings have been chaired by president Herman Van Rompuy since March 2010.[6] The table below has listed the date and summary report of all previous Euro summits.

Euro summit dates[1] Note / Conclusion
12 October 2008[7] Inaugural meeting, launch of a bank crisis solution.
25 March 2010[8]
7 May 2010[9] Press conference video.
11 March 2011[10] Press conference video.
21 July 2011[11] Press conference video.
23–26 October 2011[12][13][14] Press conference video: 1 and 2.
9 December 2011[15]
30 January 2012[16]
2 March 2012[17]
29 June 2012[18] Press conference video[19]
14 March 2013[20][21] New procedure rules for Euro summits,
Press conference video

New procedure rules for Euro summits were adopted on 14 March 2013,[22] regulating the Euro Summit shall meet at least twice a year, convened by its President on preferably one of the same dates as the EU summits.[23] For unknown reasons, only one Euro Summit meeting was however organized in 2013.

President[edit]

In its informal capacity, the de facto summit President has been the European Council President, meaning that Herman Van Rompuy chaired all meetings since March 2010. The proposals for formalisation of the summit include electing a President along the same lines (and term) as the European Council President,[14] and until then Van Rompuy continues to chair the summit. On 1 March 2012, he was formally elected as President of the Euro Summit for the term 1 June 2012 to 30 November 2014.[6]

Members[edit]

The eurozone
Representative Picture Member State In office since
Faymann, WernerWerner Faymann Faymann.jpg  Austria 2 December 2008
Di Rupo, ElioElio Di Rupo Elio Di Rupo - Press Conference.jpg  Belgium 6 December 2011
Anastasiades, NicosNicos Anastasiades Nicos Anastasiades at EPP HQ.jpg  Cyprus 28 February 2013
Rõivas, TaaviTaavi Rõivas RE Taavi Rõivas.jpg  Estonia 26 March 2014
Katainen, JyrkiJyrki Katainen Katainen.jpg  Finland 22 June 2011
Hollande, FrançoisFrançois Hollande François Hollande headshot.jpg  France 15 May 2012
Merkel, AngelaAngela Merkel Angela Merkel (2008) (cropped).jpg  Germany 22 November 2005
Samaras, AntonisAntonis Samaras Antonis Samaras (PP Congress Bonn 2012).jpg  Greece 20 June 2012
Kenny, EndaEnda Kenny EndaKenny.jpg  Ireland 9 March 2011
Letta, EnricoEnrico Letta Enrico Letta 2013.jpg  Italy 28 April 2013
Dombrovskis, ValdisValdis Dombrovskis Valdis Dombrovskis 2009.jpg  Latvia 12 March 2009
Bettel, XavierXavier Bettel Xavier Bettel Royal Wedding 2012 cropped.jpg  Luxembourg 4 December 2013
Muscat, JosephJoseph Muscat Joseph Muscat.jpg  Malta 11 March 2013
Rutte, MarkMark Rutte Rutte.jpg  Netherlands 14 October 2010
Passos Coelho, PedroPedro Passos Coelho Pedro Passos Coelho 1.jpg  Portugal 21 June 2011
Fico, RobertRobert Fico Robert Fico (2008)a.jpg  Slovakia 4 April 2012
Bratušek, AlenkaAlenka Bratušek Bratušek.jpg  Slovenia 20 March 2013
Rajoy, MarianoMariano Rajoy Rajoy2011.jpg  Spain 21 December 2011
Van Rompuy, HermanHerman Van Rompuy
Non-voting chair
Van Rompuy.jpg  European Union 1 December 2009
Notes

Presidents of other EU institutions, such as the President of the European Commission and the European Central Bank President also attend. Presidents of the Euro Group and of the European Parliament may be invited and the President of the Euro Summit shall present a report to the European Parliament after each of the meetings of the Euro Summit. Heads of state or government of non-eurozone signatories to the European Fiscal Compact treaty participate, at least once a year, for those policies of the treaty that apply to them. In some summits, other leaders might attend discussions, for example the British Prime Minister attending the 2008 summit.

See also[edit]

References[edit]

  1. ^ a b c Eurozone Governance: Key events (August 2007 – December 2011), European Council
  2. ^ "Sarkozy pushes eurozone 'economic government', France 24 (21 October 2008)
  3. ^ Germany rejects idea of eurozone 'economic government': report, EU Business (21 October 2008)
  4. ^ Possible changes in the EU Treaty, European Council
  5. ^ EU states to speed up austerity, embrace 'limited' treaty change, EU Observer
  6. ^ a b "Herman Van Rompuy re-elected president" (PDF). Council of the European Union. 1 March 2012. Retrieved 5 May 2013. 
  7. ^ "Summit of the euro area countries – Declaration on a concerted European action plan of the euro area countries (12 October 2008)" (PDF). Council of the European Union. 12 October 2008. Retrieved 5 May 2013. 
  8. ^ "Statement by the heads of state and government of the euro area (25 March 2010)" (PDF). Council of the European Union. 25 March 2010. Retrieved 5 May 2013. 
  9. ^ "Statement of the heads of state or government of the euro area (7 May 2010)" (PDF). Council of the European Union. 7 May 2010. Retrieved 5 May 2013. 
  10. ^ "Conclusions of the heads of state or government of the euro area (11 March 2011)" (PDF). Council of the European Union. 11 March 2011. Retrieved 5 May 2013. 
  11. ^ "Statement by the heads of state or government of the euro area and EU institutions (21 July 2011)" (PDF). Council of the European Union. 21 July 2011. Retrieved 5 May 2013. 
  12. ^ "Informal Meeting of Members of the European Council – family photo (26 October 2011)" (PDF). Council of the European Union. 26 October 2011. Retrieved 5 May 2013. 
  13. ^ "Remarks by President of the European Council Herman Van Rompuy following the meeting of the Euro Summit (26 October 2011)" (PDF). Council of the European Union. 27 October 2011. Retrieved 5 May 2013. 
  14. ^ a b "Euro summit statement (26 October 2011)" (PDF). Council of the European Union. 26 October 2011. Retrieved 5 May 2013. 
  15. ^ "Statement by the Euro area Heads of State or Government (9 December 2011)" (PDF). Council of the European Union. 9 December 2011. Retrieved 5 May 2013. 
  16. ^ "Agreed lines of communication by euro area Member States (30 January 2012)" (PDF). Council of the European Union. 30 January 2012. Retrieved 5 May 2013. 
  17. ^ "Statement Euro area Heads of State or Government (2 March 2012)" (PDF). Council of the European Union. 2 March 2012. Retrieved 5 May 2013. 
  18. ^ "Euro area summit statement (29 June 2012)" (PDF). Council of the European Union. 29 October 2012. Retrieved 5 May 2013. 
  19. ^ "Euro Zone Summit – Press conference by Herman Van Rompuy – Friday, June 29, 2012 at 4.30 (video)" (PDF). Council of the European Union. 29 June 2012. Retrieved 5 May 2013. 
  20. ^ "Eurozone summit family photo (14 March 2013)" (PDF). Council of the European Union. 15 March 2013. Retrieved 5 May 2013. 
  21. ^ "Remarks by President Herman Van Rompuy following the European Council (14 March 2013)" (PDF). Council of the European Union. 15 March 2013. Retrieved 5 May 2013. 
  22. ^ "Remarks by President Herman Van Rompuy following first session of the European Council". European Council. 14 March 2013. 
  23. ^ "Rules for the organisation of the proceedings of the Euro Summits" (PDF). Council of the EU. 14 March 2013.