Brussels, 24/10/2008 (Agence Europe) - EU heads of state and government are to meet in Brussels on 7 November for an extraordinary summit with a view to the G20 meeting in Washington on 15 November on recasting the global financial system, (EUROPE 9767). The informal lunch to be attended by the 27 leaders will be held after the Ecofin Council on 4 November and the day after the meeting of the European Central Bank (ECB) Governing Council which will take a stance on eurozone interest rates (a further fall is not to be ruled out). Although initially it was to close, the College of Commissioners will meet on Wednesday 29 October with a view to setting out a number of ideas to support the real economy and prepare the string of meetings and summits on the financial crisis.
After the Czechs had taken stock of the idea said to be put forward by the French president that the Eurogroup presidency should continue at the level of the heads of state and government of the EU15 (EUROPE 9768), the Commission did not wish to go too far but clarified its position very cautiously. “The basis of the EU remains the internal market and the decisions that have an impact for our member states must be taken by all 27”, a spokesman explained on Friday 24 October. “The Community method and decision-making by all 27 members within the framework of the EU formal institutions is, we believe, essential”. However, he added: “We are open to flexibility when the situation calls for it”. (A.B./transl.jl)