Meeting of finance ministers ended without results

Meeting of finance ministers ended without results

Brussels : Belgium | Oct 22, 2011 at 11:59 AM PDT
Views: Pending
György Matolcsy, Hungary's Finance Minister, opens Ecofin press conference

The meeting of finance ministers of the European Union (Ecofin) on Saturday ended in the evening in Brussels without tangible results, but discussions will continue throughout the night at the Eurogroup (eurozone countries).

In what appears to be a "pact of silence" that is to surround all the meetings that take place in Brussels summit preparatory to come, as had happened the day before the end of a meeting of the Eurogroup, the meeting of EU finance ministers ended no press conference, and only a terse statement from Polish President indicating that discussed the topics on the agenda of the European Council on Sunday.

However, according to diplomatic sources, throughout the afternoon the 27 discussed the recapitalization of banks, and although progress has been made was not yet reached any agreement.

According to the same sources, the table is a proposal for a value of bank recapitalization in the order of 100 billion euros, but on Sunday the 27, then you have the level of Heads of State and Government, will be further to overcome many remaining differences, values ​​and how such recapitalization.

After the Ecofin meeting, finance ministers of the eurozone, which had already met in the morning, to meet again in the "Eurogroup" should focus on during the night in discussions on strengthening and capacity of the Fund European Financial Stability (EFSF), on which did not reach any agreement on Friday.

At the same time, takes place in the outskirts of Brussels a meeting of the European People's Party (EPP), the largest European political family, which owns 17 of the 27 European leaders, including the Portuguese Prime Minister Pedro Passos Coelho, and the Presidents the three institutions, Barroso (Commission), Van Rompuy (Council) and Jerzy Buzek (Parliament).

1 of 12
European finance ministers are set to hold crucial meetings in Brussels to address the eurozone's economic crisis
European finance ministers are set to hold crucial meetings in Brussels to address the eurozone's economic crisis
Abdel Fattah Hussein is based in Cairo, Kairo, Egypt, and is a Reporter on Allvoices.
Report Credibility
  • Clear
  • Share:
  • Share
  • Clear
  • Clear
  • Clear
  • Clear

News Stories

  • European Leaders Scramble For Debt Crisis Fix

    Europe's top leaders are meeting Sunday in Brussels to hammer out a solution to the debt crisis threatening the common currency, the euro, and -- potentially -- banks around the world. The European Council meeting comes on the heels of an agreement...
  • Osborne: Talks 'Critical' For Eurozone Crisis

      Sky News
    Finance ministers have agreed to an 8bn euro loan to Greece The chancellor said negotiations with fellow EU finance ministers this weekend would be vital for making steps toward boosting growth in the UK and across the world...Eurozone finance...
  • VIDEO: Eurozone debt crisis meeting

    Eurozone debt crisis meeting in Brussels 22 October 2011 Last updated at 04:37 ET European ministers are meeting over the weekend in Brussels with the aim of settling disagreements over how to solve the Eurozone debt crisis. On Friday finance...
  • France, Germany set for euro talks

      Channel NewsAsia
    France and Germany were poised to make a fresh bid to forge a solution to the eurozone debt crisis Saturday following a mini breakthrough as ministers agreed to unlock much-needed aid for Greece. French President Nicolas Sarkozy and German Chancellor...
  • Van Rompuy to Become Eurozone President

    The information is based on a preliminary version of a concluding declaration of the Sunday eurozone summit. "The president of the Euro summit will be designated by the heads of state or government of the euro area at the same time the European...
  • Key EU finance ministers' meeting cancelled

      The independent
    Yet another summit of EU leaders may be needed next weekend to complete plans for a comprehensive economic rescue package, officials in Brussels said today. Tomorrow's one-hour gathering of the 27 leaders, followed by a much longer session of the 17...





More From Allvoices

Report Your News Got a similar story?
Add it to the network!

Or add related content to this report

Most Commented Reports

Use of this site is governed by our Terms of Use Agreement and Privacy Policy.

© Allvoices, Inc. 2008-2014. All rights reserved. Powered by PulsePoint.