28-29 June 2012: European Council Summit, Brussels

28-29 June 2012: European Council Summit, Brussels
The European Council will adopt a “compact for growth and jobs”, setting a framework for action to be taken by the member states and the EU with the aim of re-launching growth, investment and employment, and making the European economy more competitive.
It is due to endorse country-specific recommendations on the member states economic and fiscal policies, thus bringing the 2012 European Semester monitoring exercise to a close.
President Herman Van Rompuy will present a report setting out a vision for the future of the EU’s economic and monetary union (EMU). The report, prepared by Mr Van Rompuy in close cooperation with the presidents of the Commission, the Eurogroup and the European Central Bank, suggests the way forward for strengthening the set-up of EMU over the next decade. It proposes that frameworks be developed for the financial sector, for budgetary matters and for economic policy, supported by strengthened democratic legitimacy and accountability.

The European Council will also hold its first substantial discussion on the EU’s multiannual financial framework (MFF) for the 2014-20 period.

The discussion will focus on two issues:
– how EU policies can best contribute to the creation of growth and jobs;
– how to prioritise spending in the different policy areas and better align it with the Europe 2020 strategy for growth and jobs. The European Council is expected to prepare the ground for further negotiations on the MFF.
The aim is for an agreement to be reached before the end of this year. Check out MFF website for information on the negotiation process.

The European Council is also expected to endorse the opening of negotiations with Montenegro on its accession to the EU, following the conclusions of the General Affairs Council on 26 June 2012.

Find out more: http://www.consilium.europa.eu/homepage/highlights/financial-framework-2014-2020-to-be-discussed-at-the-european-council?lang=en
Follow it live: http://video.consilium.europa.eu/?siteLanguage=en