Van Rompuy task force agrees need for budgetary sanctions

European Council President Herman Van Rompuy and EU finance ministers kicked off negotiations on greater economic co-ordination on Friday (21 May), with participants agreeing the "task force" should concentrate on four main objectives.

While all members stressed the preliminary nature of the talks, agreement was reached on the need for tougher penalties for states that repeatedly break the EU's budgetary rules, known as the Stability and Growth Pact.

"There was a broad consensu...