Outcome of May 2010 Summit and ECOFIN meeting

This procedure concerns the results of high-level meetings between the European Council and the Economic and Financial Affairs Council (ECOFIN). It focuses on coordinating economic policies and managing public deficits to ensure the stability of the euro and the wider euro area during a period of financial volatility.

This affects EU member states using the single currency, requiring stricter adherence to deficit limits and interest rate coordination to protect the stability of the common currency.