European Union leaders have concluded their summit in Brussels. With concerns over Greece looming over the talks, the leaders did manage to appoint the next president of the European Central Bank, AND give the go-ahead for Croatia to join the EU.

The European Council has agreed to appoint Mario Draghi, the current Italian central bank governor, as new president of the European Central Bank.

EU finance ministers are expected to finalize the approval procedure in July.

Angela Merkel, German Chancellor, said, "I'm happy that Mario Draghi will be the next president of the European Central Bank. I think it's a very positive signal with regards to the independence and stability of the ECB."

The summit also gave the go-ahead for Croatia to join the EU, after six years of negotiations.

The former Yugoslav state should be able to wrap up its accession next week.

Jose Manuel Barroso, Europenan Commission President, said, "I think all the Western Balkans should see this decision regarding Croatia as a very encouraging signal of the determination of the European Union to go forward with its enlargement prospect in the Western Balkans."

Croatia still faces further EU scrutiny in the coming months, over its judicial reforms, and anti-corruption legislation.

Should all go to plan, Croatia will join the EU in July 2013.

Go to Forum >>0 Comment(s)