Foreign Minister Westerwelle issued the following statement on the results of the European Council meeting whilst on official business in Cairo:
“The agreement on a fiscal compact and the ESM treaty are major steps towards the creation of a genuine European stability union. The principle that solidarity and sound economic management go hand in hand has prevailed.
This decision is an important signal that Europe is serious about pursuing a sound and sustainable budgetary policy, which will boost consumer and market confidence.
Focusing on budgetary consolidation, as well as growth, employment and competitiveness, is the right course to take if we are to master the crisis.”