European Council, Brussels 9/12/2011

At the European Council of 9 December 2011, the Heads of State and Government stated that much has been done over the past eighteen months to improve EU economic governance and address the economic and fiscal crisis. They agreed that priority should be given to measures with the greatest potential to boost growth and job creation. The Member States participating in the Euro Plus Pact agreed to make clearer and measurable commitments, particularly to advance work on employment. Furthermore, they set guidelines for the further development of energy policy, regarding the completion of the internal market, enhancing energy efficiency, developing infrastructure, ensuring coherence in EU external relations, and strengthening nuclear safety and protection. Additionally, the European Council welcomed the signing of the Accession Treaty with Croatia and made decisions on the EU enlargement process concerning Serbia and Montenegro.
At the same time, the Heads of State and Government of the eurozone agreed to move towards a stronger economic union due to increased tensions prevailing in the euro area markets. Thus, they decided to move in two directions: The first concerns a new fiscal compact and enhanced coordination on economic policy matters. The second involves the development of stabilization tools to address short-term challenges.