Heads of state and government meeting in Brussels on 29 and 30 October clinched a deal on climate financing. "The EU now has a very strong negotiating position when the countdown to Copenhagen has started," declared Swedish Prime Minister Fredrik Reinfeldt, current President of the European Council .The EU continues to take the lead in this process.

In the run-up to the UN climate conference in December, European leaders agreed on the funding needed to help developing nations tackle global warming. They endorsed the estimate that, by 2020, the total costs of mitigation and adaptation in developing countries could amount to around €100 billion annually. That is what EU heads of state and government have decided in its last meeting in Brussels.

Until 2012, fast-start international funding worth €5-7 billion per year would be needed to avoid any delay of effective action. Depending on other key players' pledges, member states are ready to contribute their fair share to this goal on a voluntary basis.

By 2020, the overall level of the international public support required is estimated at  €22 to 50 billion a year. This would be subject to a global pact, whereby all countries, except the least developed, are expected to contribute on the basis of their emission levels and GDP.Each member state's share of the total burden will be decided after Copenhagen, taking into account each country's ability to pay.

As a response to a Czech request concerning the Lisbon treaty, EU leaders granted the Czech Republic an opt-out from the Charter of fundamental rights. "The road to final ratification of the treaty is now  open," said Prime Minister Fredrik Reinfeldt. The presidency is ready to act  as soon as the Czech Constitutional Court gives its green light and the Czech President signs the treaty.

Leaders also agreed on guidelines for future European External Action Service. This new service should help the Union to become more capable, coherent and strategic as a global actor.

In the field of economy, heads of state stressed that, despite a budding recovery, supporting policies should not be withdrawn until the recovery is fully secured. It is, however, necessary to prepare a coordinated strategy for exiting from the stimulus measures when the time is right. To ease unemployment, which is expected to get worse, active labour market policies are still required.

As regards ongoing work to strengthen financial supervision in Europe, the summit called for an agreement by December on a package of proposals setting up a new supervisory structure for the EU.

The European Council also adopted the EU strategy for the Baltic Sea region. It aims to address urgent environmental challenges and to contribute to the economic success of the region. It may also serve as a model for other macro-regional strategies.