The FINANCIAL — There have been "tentative signs" of economic stabilization in Europe but financial market tensions continue to weigh on the economy, European Union leaders will say according to a draft of the conclusions for Monday's summit meeting in Brussels, according to Borsa Italiana – London Stock Exchange Group.
As a previous draft showed, most of the focus was on measures that could be taken at national and EU level to create jobs and growth.
The EU is set to unveil proposals on youth unemployment, lending to smaller firms and removing obstacles to internal EU trade and growth.
That includes reprogramming some of the EUR82 billion in unused EU funds to focus on these priorities.
However the draft contains no detailed figures on how much money will be reprogrammed.
Some EU officials have voiced skepticism about the EU initiatives which were heavily trailed by European Commission President Jose Manuel Barroso last week.