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French President Nicolas Sarkozy warned Thursday that Europe was facing an unprecedented risk from its debt woes and said a crucial EU summit was the last chance to solve the crisis. Photo by EPA/BGNES
Europe faces an unprecedented risk and the two-day European Council meeting should be seen as the last chance for solving EU's debt crisis, according to French President Nicolas Sarkozy.
Never has the risk of disintegration been greater for Europe, the French President told a gathering he told a meeting of European conservative parties in the French city of Marseille on Thursday.
"We must act straight away. The longer we wait to take this decision, the more it will cost and the less effective it will be," Sarkozy warned.
"If we don't have an agreement on Friday, we will not have a second chance," he added.
Addressing the annual congress of the members of the EPP, he stated that all EU member states should back the reforms he proposed jointly with German Chancellor Angela Merkel, "so that no-one is left behind."
Sarkozy and Merkel will present details of their plans at the summit.
On Monday, the two European leaders agreed on a number of measures set to be enshrined in EU Treaties or as additional treaties, which include automatic penalties for failure to keep up with fiscal discipline rules.
A group of Members of the European Parliament has raised concerns over the potential leakage of confidential EU information to Russia, urging stronger safeguards within the European Parliament
The European Public Prosecutor’s Office (EPPO) has carried out a series of coordinated investigative actions across several countries, including Bulgaria and Romania, as part of a probe into suspected large-scale fraud involving EU funds
The caretaker government has approved a decision endorsing the Partnership Agreement between the European Union and its Member States and the Mercosur bloc
US Vice President JD Vance launched a sharp attack on the European Union during a visit to Budapest, accusing Brussels of interfering in Hungary’s election just days before a closely contested vote that could reshape the country’s political landscape
Unemployment in the euro area edged up slightly in February, reaching 6.2% compared to the record low of 6.1% recorded in January, according to figures released by Eurostat
Bulgaria has formally requested assistance from the European Union to counter potential foreign interference and disinformation campaigns ahead of its upcoming parliamentary elections
The Kremlin has announced that Russian President Vladimir Putin has ordered an “Easter ceasefire” in the war in Ukraine, declaring a temporary halt in hostilities lasting around 36 hours
A group of Members of the European Parliament has raised concerns over the potential leakage of confidential EU information to Russia, urging stronger safeguards within the European Parliament
Moldovan President Maia Sandu has formally enacted legislation withdrawing the country from the Commonwealth of Independent States (CIS), marking a decisive step in Chisinau’s gradual disengagement from Russian-led structures
The European Public Prosecutor’s Office (EPPO) has carried out a series of coordinated investigative actions across several countries, including Bulgaria and Romania, as part of a probe into suspected large-scale fraud involving EU funds
A fragile ceasefire between the United States and Iran has coincided with escalating tensions over the Strait of Hormuz, where Iran has moved to tighten control over one of the world’s most critical maritime routes
US President Donald Trump has sharply criticized NATO allies over what he described as their unwillingness to support Washington during the war with Iran, following a two-hour meeting with Secretary-General Mark Rutte at the White House
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