EU welcomes Mid-East truce

The European Union has pledged €250 million to aid the Middle East peace process as Israel and Palestine agreed yesterday on a truce to end over four years of violence.

EU External Relations Commissioner Benita Ferrero-Waldner welcomed the truce as an important step closer to a deal set out in an international road map for peace.

Reacting immediately after the Sharm-el-Sheik announcement, Ms Ferrero-Waldner said that "the ceasefire declaration is a message of hope that brings closer the prospect of peace based on a two-state solution".

In a statement issued by the Commission, the Commissioner said that "the courage and leadership shown by both sides must open a longer process of parallel effort to implement the road map".

She said that during recent meetings with the two sides she signalled to both parties that the European Commission was ready to support the next steps with concrete help worth €250 million.