Cause and Effect in European Politics and Law
December European Council 2012: Time for Decisions

December European Council 2012: Time for Decisions

During their last for the year summit, the EU leaders are faced by the challenge to keep their own promises or to postpone them. On December 13-14, the leaders of the 27 and Croatia as an observer have to find a compromise about the single banking supervision for which they themselves put a deadline the end of 2012. Another important topic on their agenda is the final report by European Council President Herman Van Rompuy, which outlines ideas about further reforms of the eurozone. The report has been prepared in cooperation with the presidents of the ECB, the Commission and the Eurogroup.

The summit, as the tradition goes, is important also for the enlargement process because the leaders usually in the end of the year view the Commission progress reports of the candidate countries and decide how the process should go on. It is expected for Serbia to be applied the Montenegrin scenario - the country will not receive a date for starting negotiations now but in June, given that it proves it maintains the dialogue with Kosovo. Macedonia, too, is expecting a date, especially after Enlargement Commissioner Štefan Füle proposed a compromise. On these and other issues from the summit agenda you can follow this subject for news and analysis, as well as our Free Talk Corner for live coverage. As usually, we will be following the most interesting things from the December European Council live. We are starting on Thursday afternoon.

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The EU Common Security and Defence Policy Needs Emancipation

Lately, more concerns over the state of the EU's foreign policy have been voiced. One reason is the emancipation of EU foreign policy from the US. Although the cooperation between the EU and the US have spun close ties in the first term of the Obama administration, the European Council on Foreig ...
 | © The Council of the European Union | © The Council of the European Union

Western Balkans and EU - Awaiting 2013

There is a saying that one swallow does not bring spring. Single steps in the desired direction - too. This became evident after the last for this year meeting of the foreign ministers of the 27 EU member states and their decisions on the Western Balkans. It is precisely in spring next year, dur ...
 | © European Parliament | © European Parliament

Banking Supervision Is Only the First Step Toward a Banking Union

2012 will remain in history as the year when the EU made its first significant step during the crisis toward deepening of integration with the decision to move toward a single supervision for banks. The decision has been reached literally in the last minute and was welcomed by the EU leaders at ...
 | © The Council of the European Union | © The Council of the European Union

The Big Plans for the Eurozone Are Left for Another Time

If I have to answer the question in the title of euinside's article presenting the report of the four presidents, I would have to say that the European Economic and Monetary Union (EMU) will not be of the most genuine ones. The document, also known as Herman Van Rompuy's report, is titled "Towar ...
 | © Council of the European Union | © Council of the European Union

Europe Got Its Christmas Present - a Single Supervisory Mechanism for Banks

After more than 14 hours of negotiations and a 50/50 chance an agreement to be reached in the very last moment before an important and final for this year EU summit on December 13-14, the ministers of finance of the Union have succeeded, although with difficulty but impressively fast, in agreein ...
 | © Consilium | © Consilium

Will There Be a Decision on the Single Banking Union by the Year-end? Possibly, but not Certainly

"I think that we are very close to an agreement. The problems are not insurmountable". With these words by the Cypriot EU Presidency started the discussion of the contentious issues surrounding the establishment of the single banking supervision in the Council of the ministers of finance (Ecofin ...
 | © euinside | © euinside

Will Herman Van Rompuy's Economic and Monetary Union Be Genuine?

Precisely a week before another key European Council on December 13-14, the final report of the four presidents is ready and envisages the eurozone to turn into a "genuine" economic and monetary union (EMU) in three stages, with a common budget, a bank resolution fund, a deposit guarantee scheme ...
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Barroso: The Overhaul of the Eurozone Must be Ready for the next European Elections

The European Commission, in a solo action, is proposing a two-speed Europe, consisting of the eurozone and the rest. On November 28th, European Commission President Jose Manuel Barroso presented his vision for the future of the euro area, which is separate from the plans of the four presidents, ...
 | © Cyprus Presidency of the EU | © Cyprus Presidency of the EU

A Banking Union Deal Will Hardly be Reached by the End of the Year

The European Commission has set an ambitious goal the single banking supervision in the euro area to start working as of 1 January 2013. Such an intention stated the European leaders at their summit in June as well. To that end, the Commission draft must be approved by the 27 member states. At p ...
 | © European Union 2012 | © European Union 2012

The Banking Union - One, but Not for All

"We want to break the vicious link between sovereigns and their banks. In the future, bankers' losses should no longer become the people's debt, putting into doubt the financial stability of whole countries," Jose Manuel Barroso, president of the European Commission said on the occasion of the p ...
 | © European Parliament Audiovisual | © European Parliament Audiovisual

The EC, the EP and Germany Disagree on the Banking Supervision

The single supervisory mechanism for banks, which the European Commission will propose on 12 September, will apply to all eurozone countries and will be open for the rest of the EU member states to participate. The mechanism will cover "all banks in the euro area, with the ECB at the heart of th ...