European Council: Meeting of Heads of State or Government of the Euro Area, Brussels, Friday 7 May 2010

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Publication Date 07/05/2010
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The President of the European Council, Mr van Rompuy, convened Heads of State or Government of the Euro area for a special meeting on the evening of 7 May 2010 in order to finalise the adjustment programme negotiated by the European Commission, the European Central Bank (ECB) and the International Monetary Fund (IMF) with the Greek government and the financial support to Greece, as well as to draw the first conclusions on the Greek / eurozone debt crisis for governance of the Euro area.

Sources reported on 8 May 2010 that the eurozone leaders had adopted a statement which aimed to send markets and citizens a message of unity as they agreed to set up a European Stabilisation Mechanism to shelter the euro from speculators. An extraordinary meeting of economic ministers was to take place on 9 May to flesh out the details of a rescue plan for failing eurozone states.

Source Link Link to Main Source http://www.european-council.europa.eu/the-president/meeting-of-heads-of-state-or-government-of-the-euro-area-.aspx
Related Links
ESO: Background information: The Greek debt crisis of 2010 http://www.europeansources.info/record/the-greek-debt-crisis-key-sources/
European Council: Press Release, 7.5.10: Statement of the Heads of State or Government of the Euro Area http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/ec/114295.pdf
BBC News, 8.5.10: Eurozone leaders approve Greece aid package http://news.bbc.co.uk/1/hi/business/8669488.stm
European Commission: SPEECH/10/224: José Manuel Durão Barroso President of the European Commission Statement following the meeting of the Heads of States and Government of the Euro Area Brussels, 8 May 2010 http://europa.eu/rapid/pressReleasesAction.do?reference=SPEECH/10/224&format=HTML&aged=0&language=EN&guiLanguage=en
Deutsche Welle, 7.5.10: Eurozone leaders to call for permanent rescue system http://www.dw-world.de/dw/article/0,,5554783,00.html
France24, 8.5.10: Leaders look to calm markets with new crisis fund http://www.france24.com/en/20100508-eu-leaders-calm-markets-new-crisis-fund-mechanism-contagion-speculation-greece
EurActiv, 8.5.10: Euro leaders agree crisis plan to calm markets http://www.euractiv.com/euro-finance/euro-leaders-agree-crisis-plan-c-news-493955
EurActiv, 7.5.10: Franco-German show of unity ahead of eurozone summit http://www.euractiv.com/en/euro/franco-german-show-of-unity-ahead-of-eurozone-summit-news-493868

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