European Council 28/29 June

Economic policy was the focus of the June European Council, while foreign policy, enlargement and other international issues were also on the agenda.

President Barroso outlined his vision for a banking union for the European Union. This will help to protect taxpayers’ money and ensure the same level of supervision for all EU banks. Together with ideas to deliver stronger budgetary discipline through a fiscal union, these measures aim to restore confidence in a modernised Economic and Monetary Union.

EU heads of state or government concluded the first phase of the 2012 European Semester, the six month cycle of economic policy coordination. They endorsed the country-specific recommendations prepared by the Commission that provide guidance for member states implementing national decisions on budgets, structural reforms and employment policies.

The European Council took stock of the implementation of the "EU growth agenda", with a particular emphasis on youth employment. Furthermore, it reviewed progress and discussed how the Union can deepen its trade and investment relationships with key partners.
EU heads of state or government also held their first substantial discussion on the Multiannual Financial Framework (2014-2020).

Finally, the European Council examined the question of opening accession negotiations with Montenegro, following the 26 June General Affairs Council.

• Main results of the European Council
• Remarks by President Herman Van Rompuy following the European Council
• Statement by President Barroso following the European Council
• European Council website