The latest meeting of the Council concluded that the new economic governance must be supplemented by an improved monitoring of employment and social policies, particularly those which can have an impact on macro-economic stability and economic growth. In addition, the Heads of State or Government held an initial exchange of views on best practices as regards their employment policies and agreed on the particular need to fully mobilise labour for growth.

The European Council meeting of 9 December ended with the agreement of Heads of State or Government in supplementing the new economic governance by an improved monitoring of employment and social policies, particularly those which can have an impact on macro-economic stability and economic growth, in line with the Council conclusions of 1 December. Additionally, they also agreed that while structural reforms must be vigorously pursued in labour markets, targeted measures are urgently needed at both national and European level for the most vulnerable groups, in particular the young unemployed.

Heads of State of Government also welcomed the intensive preparatory work carried out during this semester on the future Multiannual Financial Framework. They called on the incoming Presidency to press ahead with the work aimed at developing a basis for the final stage of negotiations, to be discussed at the European Council in June 2012. It reiterates its invitation to the institutions to cooperate to ensure the adoption of the Multiannual Financial Framework by the end of 2012.

Besides the Accession Treaty signature with Croatia achieved at the Council meeting, Heads of State or Government welcomed the Commission’s assessment on the good progress made by Montenegro, which has achieved overall satisfactory results. With regard to Serbia, the European Council noted its considerable progress towards fulfilling the political criteria set by the Copenhagen European Council, as the Commission recommended to grant the EU candidate status to this country, and the Stabilisation and Association Process requirements and that a fully satisfactory level in its co-operation with ICTY was reached. It also welcomed that Serbia has re-engaged in the Belgrade-Pristina dialogue and is moving forward with implementation of agreements in good faith.