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This article is part of a series on the politics and government of the European Union
The Euro summit (also referred to as the eurozone summit or euro area summit) is the meeting of the heads of state or government of the member states of the eurozone (those EU states which have adopted the euro). It is distinct from the EU summit held regularly by the European Council, the meeting of all EU leaders.
The Euro summit began as an off shoot of the Euro Group, which is the meeting of the eurozone member's finance ministers.[1] French President Nicolas Sarkozy called for the Euro summit to replace the Euro Group as a "clearly identified economic government" for the eurozone, stating it was not possible for the eurozone to continue without it. The eurozone economic government would discuss issues with the European Central Bank, which would remain independent.[2] Sarkozy stated that "only heads of state and government have the necessary democratic legitimacy" for the role. This idea was based on the meeting of eurozone leaders in 2008 who met to agree a co-ordinated eurozone response to the banking crisis.[3]
They first met in the summit format in October 2008, in response to the debt crisis. Subsequent meetings took place in March 2010, May 2010, March 2011, July 2011 and October 2011.[1] In the October 2011 meeting, it was agreed to formalise the Euro summit, as at least twice yearly meeting, via a possible new treaty change. A Euro summit President, separate from the Euro Group President, would be elected at the same time as the President of the European Council and under the same rules. Until such an election takes place, the European Council President fulfils that role.[4][5]
In October 2011, the Eurozone head of states agreed to increase meeting activity to at least two times per year, as part of measures to improve governance of the Eurozone. Meetings have been chaired by president Herman Van Rompuy from March 2010[6] until November 2014, and will then subsequently be chaired by the new elect president Donald Tusk until 31 May 2017.[7] The table below has listed the date and summary report of all previous Euro summits.
New procedure rules for Euro summits were adopted on 14 March 2013,[21] regulating the Euro Summit shall meet at least twice a year, convened by its President on preferably one of the same dates as the EU summits.[22] For unknown reasons, only one Euro Summit meeting was however organized in 2013, and likewise only one has been scheduled to be held in 2014.
In its informal capacity, the de facto summit President has been the European Council President, meaning that Herman Van Rompuy chaired all meetings since March 2010. The proposals for formalisation of the summit include electing a President along the same lines (and term) as the European Council President,[23] and until then Van Rompuy continues to chair the summit. On 1 March 2012, he was formally elected as President of the Euro Summit for the term 1 June 2012 to 30 November 2014.[6] New elect president for the term 1 December 2014 until 31 May 2017, is the former Polish Prime Minister Donald Tusk.[7]
Presidents of other EU institutions, such as the President of the European Commission and the European Central Bank President also attend. Presidents of the Euro Group and of the European Parliament may be invited and the President of the Euro Summit shall present a report to the European Parliament after each of the meetings of the Euro Summit. Heads of state or government of non-eurozone signatories to the European Fiscal Compact treaty participate, at least once a year, for those policies of the treaty that apply to them. In some summits, other leaders might attend discussions, for example the British Prime Minister attending the 2008 summit.
European Parliament, Malta, Estonia, Romania, European Council
European Union, Eurozone, Federal Reserve System, Euro, Banque de France
European Union, United Kingdom, European Central Bank, Netherlands, Portugal
European Union, United Kingdom, France, Germany, Canada
European People's Party, European Union, Brussels, Progressive Alliance of Socialists and Democrats, European Council
European Union, Euro summit, Belgium, President of the European Council, Brussels
European People's Party, European Union, Party of European Socialists, Alliance of Liberals and Democrats for Europe Party, Council of the European Union
European Union, European People's Party, Party of European Socialists, Netherlands, Council of the European Union
San Marino, Rome, Euro, Vatican City, European Union
Euro coins, France, European Union, Numismatics, Economy of Europe