• EU adopts ‘Euro-Plus-Pact’
  • 25.03.2011
PM Tusk at EU summit; photo - PAP/Leszek Symanski
The 17 Euro Zone countries, plus Poland, Bulgaria, Denmark, Romania, Latvia and Lithuania adopted a range of measures to strengthen the euro currency and protect nations against debt at the EU summit currently being held in Brussels.


"We adopted the Euro-Plus-Pact, which will provide a new quality of economic coordination," EU President Herman Van Rompuy told reporters.

The package reinforces the EU's bailout fund, with a permanent rescue mechanism for Euro Zone nations plus countries like Poland aspiring to adopt the single currency.

The package also recommends raising retirement ages and linking salaries to increases in productivity. Individual nations will decide on how and when to achieve these goals, however.

Prime Minister Donald Tusk said that the final decision on the measures will be made after examining the document.

Minister for European Affairs Mikolaj Dowgielewicz stressed that all countries will participate in the pact on an equal footing.

"There will be no division into two categories, namely full members and observers," stressed Dowgielewicz, referring to fears of a two-speed Europe opening up in the EU.

On Friday, heads of government of the 27-nation bloc will discuss the situation in Libya and are expected to pledge one billion euros in capital investment if democratic reforms are put in place there.

A humanitarian aid operation will be carried out using military resources. Using ships and military aircraft the EU will assist in the evacuation of refugees fleeing from Libya as the conflict between the Gaddafi regime and rebels continues. (pg)