President of the Republic of Lithuania

European Council’s decisions will help prevent populism and guarantee support to crisis-stricken EU Member States

Friday, October 29, Brussels - Heads of the EU Member States reached an agreement on better economic cooperation, tighter financial surveillance and higher sanctions on countries for failure to respect fiscal discipline. European leaders also agreed that should the EU treaties be amended, this must be done only to the extent that is inevitably necessary for setting up a permanent support mechanism for countries in financial difficulty.

President of the Republic of Lithuania Dalia Grybauskaitė, who took part in the two-day work of the European Council in Brussels, underlined the importance of these decisions in preventing such global economic and financial crisis as the recent one in Europe in the future.

"This is a good step forward. We have to make every effort to maintain stability and competitiveness of the euro-zone and the whole European economic area. For Lithuania, these decisions are very valuable. They will help to prevent political populism and promote responsible behavior independent on elections. This is important for every country, including Lithuania. And this means that Europe is moving up to a new level of economic governance and economic coordination," President Dalia Grybauskaitė said.

According to the President, the European Council took note of Lithuania's position defended in the meeting that amendments to the EU treaties should be narrow and cover only fiscal discipline and its respect in the euro-zone.

Concrete economic coordination and financial surveillance instruments will hopefully be agreed by European leaders in December.
Press Service of the President

Last updated 2010.10.29 16:07