Daily Archives: February 16, 2010

Solving Greece’s current debt crisis is just the start of fixing the economy.

At last week’s European Union summit in Brussels, most people were so focused on the Greek debt crisis that they missed an interesting development on the sidelines.  This was an informal proposal from Herman Van Rompuy, the EU’s full-time president, to convene summits of EU heads of state and government once a month.

It would be a significant departure from the way the EU conducts its affairs.  At present the EU holds four scheduled summits a year, usually in March, June, October and December.  Since the financial crisis erupted in 2007-08, there have been various emergency summits as well.  President Nicolas Sarkozy of France, who ran the EU’s rotating presidency in the second half of 2008, holds the record for calling unscheduled summits.  Apart from those dealing with the financial crisis, he also convened one in response to Russia’s war with Georgia.