Entries in EU (2)


Obama to Meet with EU Leaders at the White House

Comstock/Thinkstock(WASHINGTON) -- As the European debt crisis continues to escalate, President Obama will meet with leaders of the European Union at the White House on Monday.

In a summit Wednesday morning, the president will meet with European Council President Herman Van Rompuy, European Commission President José Manuel Barroso, and High Representative Catherine Ashton.

According to the White House, Obama looks forward to discussing “a broad range of issues of mutual concern, including the global economy; our efforts to strengthen economic ties and growth; our joint work to support democracy and prosperity in the European neighborhood, across the Middle East and North Africa, and in other regions.”

In the afternoon, the president will host a private lunch with the leaders before they deliver statements to the press.

Copyright 2011 ABC News Radio


Eurozone Approves $113 Billion Bailout for Ireland

Photo Courtesy - PETER MUHLY/AFP/Getty Images(BRUSSELS, Belgium) -- The European Union on Sunday approved an 85 billion euro or $113 billion dollar deal to help stave off an economic meltdown for Ireland.  The money will come from the International Monetary Fund, the 16 nations within the Eurozone and the European Commission. 

Ireland will be allowed to take money from its pension funds to make up its part of the EU commitment.  That had been against Eurozone rules. The EU has also agreed to set up a system by which a country deemed insolvent can restructure its debt. 

Ireland will have up to seven and a half years to pay back its loans -- longer than the three years allowed to Greece in its bailout deal arranged last May.

Copyright 2010 ABC News Radio

ABC News Radio