Following an informal meeting of the EU Heads of State or Government, the Lithuanian Prime Minister Andrius Kubilius underlined that the EU leaders had an in-depth discussion on how to restore public trust in the European Union. The Prime Minister expressed his personal confidence in the EU’s ability to find a way out from the current crisis; and with a view to building broader public trust, coordinated and united actions need to be taken on the European level even more efficiently.

The joint press statement announced following the meeting of the EU Heads of State or Government expressed similar points. It agreed that Europe can only overcome the current crisis by continuing to act together in a coordinated manner without prejudice to the common interests. The press statement also underlined the importance of macro-financial stability throughout the EU.

Differences between the member states in Central and Eastern Europe were recognised. The ECOFIN Council was instructed to draw up elements to help countries facing temporary imbalances, if required, and on the basis of all available instruments. The EU leaders also welcomed the recent announcement by the EIB, World Bank, and EBRD of a joint initiative to support the banking sectors in the region.

Prime Minister Kubilius noted to the European Council that no artificial barriers should be created for countries striving to join the eurozone.