Sunday 19 November 2017

EU leaders call ‘extraordinary’ meeting for May 23 for growth talks

Independent.ie reporters

EUROPEAN leaders will hold a special meeting on May 23 to discuss boosting growth in the region.

EU President Herman Van Rompuy announced the date on Twitter and the talks will precede a scheduled EU summit on June 28/29.

If the move to raise spending on growth measures goes ahead, the EU budget may also have to be increased.

"While the return to lasting growth will take time, a turnaround can be achieved by the end of this year if the necessary decisions are taken now," Commission president Jose Manuel Barroso said.

The Commission wants to spend €50bn in a bid to leverage public and private investment in areas like energy, transport and digital infrastructures but this is dependent on greater private funding and new pooled EU "project bonds."

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