EU split over climate change plans

Times of India , Friday, October 17, 2008
Correspondent : AP
BRUSSELS: European Union leaders were deeply divided on Thursday over calls by Poland, Italy and other countries to dilute and delay an ambitious programme to fight global warming to take account of the looming economic downturn.

On the second and final day of the bloc's summit in Brussels, the leaders were expected to confirm their approval of a USD 2.3 trillion emergency bailout for the banking sector and call for a concerted global approach to revamp the world's financial system to prevent a repeat of the crisis that devastated money markets in recent weeks.

As the financial turmoil spills over into the real economy with signs that a prolonged global recession is looming, the leaders indicated support to the banking sector could be extended to other sectors.

Poland and six other Eastern European nations infuriated other EU nations with a surprise demand that the bloc drop a December target for adopting plans to reduce greenhouse gas emissions by 20 per cent by 2020.

They say the financial crisis has made it too difficult for European industry to take on the burden of adapting to a clean economy. Italy also threatened to veto the climate change plan unless its industries are given more protection.

"Our companies are in no state to take on costs like those we thought about last year," Italian Prime Minister Silvio Berlusconi told reporters last evening.

French President Nicolas Sarkozy who currently heads the EU was adamant that the economic crisis should not derail the climate change targets adopted last year. He said the bloc's credibility was at stake.

 
SOURCE : Friday, 17 October 2008
 


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