European Council, Brussels, 8-9 December 2011
"This morning we started by wrapping up that debate. The 17 Member States of the Eurozone and already many others are committed to a new "fiscal compact". A new European fiscal rule, to be transposed in national legislation. It is about more fiscal discipline; more automatic sanctions; stricter surveillance. An intergovernmental Treaty will make this agreement binding. In combination with secondary legislation and the firm political commitments, this will give the Fiscal Compact its full force. Moreover, this Treaty will be open to non-eurozone countries. Except for one, all are considering participating", stated President Van Rompuy at the press conference after the European Council meeting on 9 December 2011.

Click here to read full remarks of President Van Rompuy after the European Council roundtable: www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en...

Link to the press release with European Council conclusions, 9 December 2011: www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en...
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