Van Rompuy Says Progress Being Made to Reshape Euro Area

Real “progress” is being made to reshape the euro region, which must now focus on economic growth and job creation after agreeing on new rules to ensure budget discipline, European Union President Herman Van Rompuy said.

“Market players or rating agencies sometimes consider our response as incomplete or insufficient,” Van Rompuy said at a press conference in Rome today after meeting with Italian Prime Minister Mario Monti. “Yet real progress has been made in reshaping the euro area in order to build on its fundamentals, which are on average sound.”