Euro Summit, 14/12/2018

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Main results

EU leaders discussed the reform of the Economic and Monetary Union on the basis of a report by the Eurogroup.

They adopted a statement endorsing all elements of the Eurogroup report, including:

• a term sheet on the ESM reform
• the terms of reference of the common backstop to the SRF
• a way forward on the banking union

Leaders also gave a mandate to the Eurogroup for further work on a budgetary instrument for convergence and competitiveness for the euro area, in the context of the multiannual financial framework. 

A year ago, we promised concrete steps to strengthen the Economic and Monetary Union. Today, leaders delivered on this promise.

Donald Tusk, President of the Euro Summit

• Euro Summit statement, 14/12/2018
• Eurogroup report to Leaders on EMU deepening
• European Council, 13-14/12/2018
• Deepening Europe’s Economic and Monetary Union (background information)
• Glossary – EMU reform

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