EU leaders to focus on Greek bailout in Brussels

PanARMENIAN.Net - European leaders and finance ministers will meet Thursday, March 1 and Friday in Brussels to finalize the second Greek bailout package and discuss measures to promote long-term growth, but there will be no decision on boosting the euro-zone rescue fund, EU officials said, according to the Wall Street Journal.

European Union heads of government will kick off talks on a set of economic reforms and steps to boost growth and jobs, as well as on recent developments in Arab countries.

The leaders are expected to give European Council President Herman Van Rompuy a nod for a fresh term running through the end of 2014. He is also set to be elected to chair the summits of euro-zone heads of government.

The 27 EU leaders will also commit to review certain tax policies, including energy, financial transactions, savings and corporate.

The draft indicates that EU leaders will also discuss financial-sector regulation and will ask the European Commission to tighten rules on bank pay and bonuses.

On Thursday evening, leaders will hear a report from the European Commission on countries with outsized deficits, a first step to a new system of tighter supervision that will require governments with imbalanced economies to submit reform plans by April.

On Thursday, EU leaders are also expected to grant Serbia candidate status - allowing it to open accession talks with the regional bloc. They are also expected to discuss Syria and to call on Russia and China to stop blocking United Nations action against President Bashar al-Assad, diplomats said.