BRUSSELS (MNI) – The outcome of the meeting of EU leaders was very
good for the 17 countries of the Eurozone, European Central Bank
President Mario Draghi said early Friday.
It was “a very good outcome for the euro area member states,” he
said following the marathon session. “It is going to be the basis for
something that comes quite close to a good fiscal compact.”
International Monetary Fund chief Christine Lagarde, who also
participated, told journalists after the meeting that member states had
decided on a three-point plan that “goes in the right direction.”
The three points include tougher fiscal rules with more automatic
sanctions; an early start to ESM; and a capital increase for the IMF
of E200 billion, “to be confirmed within 10 days” by “the countries that
agree to it,” she said.
Peter Koh, Brussels Correspondent, Market News +32(04)95228374
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