EU Council President Herman van Rompuy this evening announced another EU summit to be held in Brussels at the end of next month.

In a video-message, Mr Van Rompuy said that the 27 EU leaders have been called to meet in Brussels on January 30 with an agenda focusing on jobs.

He said that the creation of more jobs was becoming more and more important as the EU was now expected to experience zero-growth during the first part of 2012 with many member states expected to enter a recession.

During their meeting EU leaders are also expected to discuss the text of the draft Fiscal Pact, agreed among all the EU member states with the exception of the UK less than two weeks ago.

The pact, to be concluded by March, will introduce new fiscal rules among all eurozone member states, including the need for the insertion of a 'golden rule' in the constitutions of member states forcing them to move towards a balanced budget, an obligation to cut the deficit by at least 0.5 per cent of GDP every year and the introduction of automatic sanctions on those member states breaching deficit and debt rules.

 

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