Herman Van Rompuy Rompuy was Deputy Prime Minister and Minister of Budget from September 1993 to July 1999 in the two governments led by Jean-Luc Dehaene. As budget minister, together with finance minister Philippe Maystadt, he helped drive down Belgium's debt from a peak of 135% of gross domestic product (GDP) in 1993. It fell to below 100% of GDP in 2003. He was elected to the Belgian Chamber of Representatives in the 1995 general election, but as he remained a minister, he was barred from taking the seat while holding that office. After his party's defeat in the 1999 Belgian general election,
Herman Van Rompuy to Van Rompuy calling an extraordinary meeting of the Eurozone heads of state or government in July to adopt a first package of further measures (notably longer term loans at lower interest rates, private sector debt-writedown, further fiscal consolidation in Greece) and again in October (in conjunction with full European Council meetings) to contain contagion from Greece to other countries (through bank recapitalisation across Europe and by leveraging the firepower of the EFSF to about €1 trillion). His first two years were also marked by his role in co-ordinating European positions on the world stage at G8 and G20 summits