EUU, Alm.del - 2020-21 - Bilag 160: Erklæring fra eurotopmødet 11/12-20

Europaudvalget 2020-21
EUU Alm.del Bilag 160
Offentligt

Euro Summit

Brussels, 11 December 2020

(OR. en)

EURO 502/20

EUROSUMMIT 1

TSGC 3

NOTE

From:

To:

Subject:

General Secretariat of the Council

Delegations

Euro Summit meeting (11 December 2020)

–

Statement

Delegations will find attached the statement agreed by the Euro Summit at the above meeting.

EURO 502/20

EUU, Alm.del - 2020-21 - Bilag 160: Erklæring fra eurotopmødet 11/12-20

Statement

–

11 December 2020

Statement of the Euro Summit in inclusive format

The strong, swift and coordinated economic policy response to the COVID-19 pandemic has

been unprecedented but integral in mitigating its socio-economic impact. The crisis will

require ongoing support to ensure a robust and well-balanced economic recovery, while

safeguarding sound public finances.

The European Union needs a financial architecture that underpins the resilience of its

economies, supports sustainable growth and jobs, and ensures adequate financing for its green

and digital transformation.

The progress achieved in the Economic and Monetary Union and the Banking Union over the

past decade has contributed to financial stability and helped maintain financing to the

economy throughout the COVID-19 crisis, thereby protecting jobs and preserving the

economic conditions for a rapid recovery. In that context, we:



take note of the letter of the President of the Eurogroup of 4 December 2020, and

welcome the agreement reached in the Eurogroup in inclusive format on the reform of

the European Stability Mechanism, as mandated by the June 2018 Euro Summit, and the

early introduction of the backstop to the Single Resolution Fund. This is a major step

forward and it paves the way for further strengthening the Economic and Monetary

Union and the Banking Union.



invite the Eurogroup in inclusive format to prepare, on a consensual basis, a stepwise

and time-bound work plan on all outstanding elements needed to complete the Banking

Union.

EURO 502/20

EUU, Alm.del - 2020-21 - Bilag 160: Erklæring fra eurotopmødet 11/12-20

Statement

–

11 December 2020

A true Capital Markets Union is key to an efficient and robust European financial

architecture. Deep and liquid capital markets are crucial to unlocking additional funding for

economic activity in Europe and generating the investments needed for the green and digital

transformation of EU economies. They also form a cornerstone for a stronger international

role of the euro, which should be commensurate with the global economic and financial

weight of the Union. To that end, we call for rapid progress on the renewed Action Plan of

the Commission. It is essential to swiftly advance work on the short-term elements, as set out

in the Council conclusions of 3 December 2020, as well as on measures necessary to support

the EU's leadership in green finance. As part of this work, the impediments to progress on the

more complex and structural areas put forward in the Action Plan should be identified.

We will review progress at our June 2021 meeting, when we will also discuss the economic

challenges for the euro area in the aftermath of the COVID-19 crisis.

EURO 502/20