Euro Summit, 14/12/2018


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

Infographic – How to resolve a bank

Infographic explaining the process of a bank resolution See full infographic

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