ECONOMY: EURO-GROUP AND ECOFIN PREPARE THE "ANTI-CRISIS PLAN"

The EU "marathon" for the approval of coordinated measures against the economic-financial crisis will be starting in Brussels today. After a preparatory stage that lasted all through October and November (European Council, Euro-Group, Ecofin, G20, Commission’s Plan), the decision-making stage begins in December. The Euro-Group will be meeting again today, while Ecofin (Economic and Finance Ministers of the 27 member state) will meet tomorrow in the presence of the EU Commission and the European Central Bank. Then a debate will be held on December 3rd between the three EU institutions as part of the plenary meeting of the European Parliament. Finally, the European plan will have to be given the go-ahead by the summit of the heads of state and government of December 11th and 12th. A EU release explains that, "based on the Commission’s communication of November 26th regarding a European revival plan, the Ecofin Ministers will adopt a European strategy" in the form of a shared "toolbox", "containing the EU’s tools (EB and budget resources) which will enable each member state to take measures as it needs, depending on its own macroeconomic and financial situation".

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