EU

Climate and economy deal sealed at summit

Article published on the 2008-12-12 Latest update 2008-12-12 17:03 TU

EU leaders at the end of the Brussels summit on Thursday - Angela Merkel, Nicolas Sarkozy, Brian Cowen & Gordon Brown.
(Photo: Reuters)

“It is quite historic what has happened here,” French President Nicolas Sarkozy said about the climate change deal.

Environmental groups were quick to criticise the agreement, which aims to decrease greenhouse gas emissions by 20 per cent by 2020. It also seeks to make energy savings of 20 per cent and to increase renewable energy sources so that they account for 20 per cent of total energy use.

The so-called "20-20-20" deal means that each nation and each sector of industry has been given its own targets for reducing emissions.

Poland, which is heavily reliant on coal fired power stations, has been accused of misusing funds designed to invest in infrastructure improvements. Claude Turmes a Green Party MEP said the Polish government spend EU funds "to organise a European football championship in 2012 [...] it is more important for Poland to reorganise its industry”.

He said German Chancellor Angela Merkel had turned her back on renewable energies, “She starts to do politics that are 180 degrees against what she herself has said at European level”.

Other major announcements from the summit include a 200 billion euro stimulus package designed to guard the continent against recession.

“This today is the answer to those who say 'you do nothing',” said British Prime Minister Gordon Brown.

Brown insisted that a coordinated effort would be more effective than individual action in each country, although some economists warned against frivolous spending to prevent recession.

The measures represent 1.5 per cent of the EU’s gross domestic product (GDP), though German Finance Minister Peer Steinbrueck warned against, “tossing around billions.”

The third part of Friday's agreement confirmed that Ireland will stage a second referendum next year in order for Irish voters to reconsider their response to the Treaty of Lisbon. The Irish public turned down the proposals in June this year.

“I would be prepared to return to the public with a new package and seek their approval of it,” said the Irish head of government Brian Cowen.