Van Rompuy: Common currency means doing more in common

22:14, February 14, 2011      

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President of the European Council Herman Van Rompuy said on Monday that the 17 countries that share the common currency euro need to do more in common.

"A common currency means doing more in common," Van Rompuy said in a video message delivered before the monthly meeting of European Union (EU) finance ministers.

The president confirmed that leaders of the 17 countries of the eurozone will hold an informal meeting on March 11.

At the summit held on Feb. 4, the EU leaders decided to adopt a comprehensive package in March to deal with the sovereign debt crisis.

"The European Council meeting on 4 February showed that the countries of the Eurozone are determined to give our common currency a strong economic infrastructure," Van Rompuy said.

The president said that there is a need to strengthen the competitiveness of each economy, so that each country in the eurozone grows in the same direction.

"We must take account of the specific situation of each Member State, but a common currency means we must be prepared to do more in common," he stressed.

Finance ministers of the eurogroup are holding a regular meeting Monday afternoon, which will be followed by a meeting of EU finance ministers in the evening to discuss the permanent crisis mechanism to fight the debt crisis.

Source: Xinhua
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