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Van Rompuy Delays Planned EU Summit by a Week to Oct. 23

Bloomberg [1]
October 10, 2011

European Union President Herman Van Rompuy pushed back a planned meeting of government leaders by a week to Oct. 23 as the region seeks to stem the Greece- triggered debt crisis.

The summit will be preceded by a meeting of EU finance ministers, Van Rompuy said today in a statement.

“This timing will allow to finalize our comprehensive strategy on the euro-area sovereign-debt crisis covering a number of interrelated issues,” Van Rompuy said. “Significant progress has been accomplished in the implementation of the July package,” he said.

“Further elements are needed to address the situation in Greece, the bank recapitalization and the enhanced efficiency of stabilisation tools,” Van Rompuy said. “These elements are closely related to the outcome of the troika mission to Greece on the state of implementation of the program and to the Commission’s plans for a framework for the bank recapitalizations, taking into account the work of the European Banking Authority.”

Full article here [1]