Statement on changes to Euro issued by Eurozone Heads of Government December 9, 2011 - Full Text

On December 9, 2011 EU leaders agreed on the key changes to be introduced to tighten fiscal discipline in the Eurozone and address the bloc's debt problems. These changes propose an intergovernmental agreement outside the EU legal framework.

According to the statement issued by the Eurozone Heads of State or Government: “Some of the measures described above can be decided through secondary legislation. The euro area Heads of State or Government consider that the other measures should be contained in primary legislation.

Considering the absence of unanimity among the EU Member States, they decided to adopt them through an international agreement to be signed in March or at an earlier date. The objective remains to incorporate these provisions into the treaties of the Union as soon as possible. The Heads of State or Government of Bulgaria, Denmark, Latvia, Lithuania, Poland and Romania indicated their intention to join in the process. The Heads of State or Government of the Czech Republic and Sweden are consulting their Parliaments before taking a decision.”

The full text of the statement may be downloaded below