Rules, EC presidency, economy on EU plate

BRUSSELS, June 18 (UPI) -- European Commission president nominations and nudging Ireland to vote for new rules are two key items for the European Union summit in Brussels, leaders said.

EU leaders were in the Belgian capital Thursday and Friday for the summit in which they hope to find a way to encourage Irish voters to approve the union's new set of institutional rules and nominate the next EC president, the EUobserver reported.

Ministers were expected to OK several guarantees on tax issues, ethical matters and neutrality as part of an overall package designed to persuade Irish voters to approve the so-called Lisbon Treaty -- which would change the workings of the European Union -- in a second vote later this year, the publication said.

Member states also were expected to decide the fate of commission chief Jose Manuel Barroso, who has said he wants another five-year term as EC president.

Economic issues also were to be brought up during the two-day summit, with ministers poised to agree that there should be a "reliable and credible exit strategy" from their current spending, as several eurozone countries are in the throes of soaring budget deficits, EUobserver said. The ministers were expected to approve a new panel to oversee the EU's economic stability, and three agencies to oversee national regulators in banking, insurance and securities.