Van Rompuy readies ‘smart sanctions’ to restore euro confidence

Report of comments by European Council President Herman Van Rompuy at the European Business Summit, Brussels, 1 July 2010. He discussed the ongoing wotk of his Task Force on Economic Governance, which had been entrusted by EU leaders to propose sanctions for countries breaking public debt and deficit limits.

• Primary Source

Council of the European Union: Press Release, PRES/10/230: European semester: Council approves strengthened monitoring of economic and budgetary policies http://www.consilium.europa.eu/App/NewsRoom/loadDocument.aspx?id=363&lang=EN&directory=en/ecofin/&fileName=116295.pdf

European Council: President: Press Release, PCE 177/10: Remarks by Herman Van Rompuy, President of the European Council, following the meeting of the Task Force on economic governance, 6.9.10 http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/ec/116293.pdf

EurActiv, 6.7.10: ECB backs treaty change for EU's 'economic government' http://www.euractiv.com/euro-finance/ecb-backs-treaty-change-eus-econ-news-496016

ESO: Background information: EU deficit offenders face aid cut-off http://www.europeansources.info/record/eu-deficit-offenders-face-aid-cut-off/

ESO: Background information: EU edges towards tougher economic rules http://www.europeansources.info/record/eu-edges-towards-tougher-economic-rules/

Deutsche Welle, 7.9.10: EU members agree to submit future budgets to Brussels for scrutiny http://www.dw-world.de/dw/article/0,,5982967,00.html

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