The conclusions of the spring European Council session are quite encompassing. Below are the most important issues:
The economic crisis
The Council will assess and report to the European Council in June about the effectiveness of the measures taken as well as the overall situation regarding the stability and functioning of financial markets. The European Council believes that that the report from the High Level Group on financial supervision chaired by Jacques de Larosière is the basis for action in order to improve the regulation and supervision of financial institutions in the EU.
EU will present a joint position for the G20 Summit in London, insisting on
• giving priority to restoring the functioning of credit markets and facilitating the flow of lending to the economy;
• avoiding all form of protectionist measures;
• ensuring appropriate regulation and oversight of all financial markets;
• fighting with determination tax evasion, financial crime, money laundering and terrorist financing.
Energy and climate change
The European Council has decided to continue discussing its position for the Copenhagen Conference on climate change in June 2009.
European Neighbourhood Policy
The European Council has adopted a special declaration for the Eastern Partnership with view of the Eastern Partnership launching summit on 7 May 2009.