Aktuaalsed teemad

United response to the financial crisis

The European Council met on 15 and 16 October 2008, against a backdrop of international economic and financial crisis. The European Council expressed its resolve to act in a concerted and comprehensive manner to protect the European financial system and depositors. The European Council reaffirmed the objective of an overall agreement on the "energy/climate change" issue before the end of the year. It agreed to speed up work on energy security. It adopted the European Pact on Immigration and Asylum. In the external sphere, it took stock of Russia's implementation of the agreement of 8 September, the situation in Georgia and the EU's relations with its eastern neighbours. The European Council heard the Irish Prime Minister's analysis of the Irish referendum on the Lisbon Treaty; it will return to the issue in December. The European Council endorsed the composition of the Reflection Group on the Future of the Union.

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The Heads of State and Government endorsed the concerted action plan of the euro area countries of 12 October as a collective response to the financial turbulence. They reaffirmed their commitment that in all circumstances the necessary measures will be taken to preserve the stability of the financial system, to support the major financial institutions, to avoid bankruptcies and to protect savers' deposits.

It was decided to establish a " financial crisis cell" to enable speedy and effective action to be taken in a crisis situation. This informal mechanism will bring together representatives of the Presidency‑in‑office, the President of the Commission, the President of the European Central Bank, the President of the Eurogroup and the governments of the Member States.

The leaders emphasised the need to strengthen the supervision of the European financial sector. They also expressed their support for rapid strengthening of prudential rules. The rules on rating agencies and their supervision should also be swiftly strengthened.

At the global level, the European leaders called for an all-encompassing reform of the international financial system. That reform should be guided by the principles of transparency, sound banking, responsibility, integrity and world governance. The aim is to take appropriate decisions rapidly, so as to engender confidence among savers and investors in every country.

With regard to energy and climate change, the European Council stated its determination to pursue the objective of finding appropriate solutions to honour the EU's ambitious commitments on climate and energy policy. Work will be stepped up to arrive at a decision in December.

Energy securityis a priority for the European Union. Security of supply involves the responsibility and solidarity of all the Member States. The European leaders adopted a series of guidelines which should serve as a basis for the Commission to draw up proposals, in particular on energy efficiency, the diversification of energy sources and supply routes: and the development of crisis mechanisms. The Union's relations with producer and transit countries will also be developed.

The European Pact on Immigration and Asylum was formally adopted by the European Council. The pact will form the basis for a true common immigration policy, guided by a spirit of solidarity between Member States.

The European Council approved the proposal concerning the composition of the Reflection Group on the Future of Europe which was submitted by the Chairman of the Group, Felipe González, and its two Vice-Chairmen, former Latvian President VairaViķe-Freiberga and former

Nokia boss Jorma Ollila. The twelve-member Group was set up to help the Union identify the challenges with which Europe will be faced in 15 to 25 years' time and to submit proposals to respond to them.

For further information:

Conclusions of the European Council (pdf)

Council webcast of press conference

Forthcoming events:

Environment Council, Luxembourg, 20 October
Justice and Home Affairs Council, Luxembourg, 24 October