EU SUMMIT: EU Barroso: Very Confident About Leaders' Summit

The head of the European Commission Friday said he was confident a summit of European Union leaders will make progress towards agreeing a "comprehensive" reform of the bloc's economic management. "I expect a good discussion on an economic comprehensive plan for the euro area and for the EU as a whole," Jose Manuel Barroso told reporters as he arrived for the meeting.

Leaders will discuss changes to the euro zone's funds for helping members that have difficulty borrowing in the international bond markets, as well as proposals to tighten cooperation in tax policy, labor market regulation and other areas that are key to the fiscal and growth performance of member nations.

According to officials, Germany and France--the euro zone's largest members--have agreed to a series of proposals to boost coordination in return for an increase in the amounts available to help troubled euro-zone members. But they will have to convince other members of the currency area and the EU as a whole that they don't involve an unacceptable loss of sovereignty, particularly in areas like corporate taxation.

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