EU to draw up new Russia sanctions proposals within a week
BRUSSELS (Reuters) - European Union officials will draw up proposals for new sanctions on Russia over its action in Ukraine within a week, European Council President Herman Van Rompuy said on Sunday.
EU leaders decided at a Brussels summit to ask the EU's executive Commission and its diplomatic service to "urgently undertake preparatory work" on new sanctions and to present proposals for consideration by EU governments within a week, Van Rompuy told a news conference.
It was not clear when sanctions might actually be implemented, however.
German Chancellor Angela Merkel told reporters that the EU would impose new sanctions if there was no change in the situation in Ukraine or if the situation worsened.
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.