The euro area Member States agreed that the signature on the new Treaty on stability will be in March. It will be legally binding as an international agreement. They also announced that the Treaty establishing the European Stability Mechanism is ready for signature. European leaders also meet at the same time and they agree on the immediate actions to help promote growth and create jobs in Europe, which should focus in stimulating employment, boosting the financing of the economy, and completing the Single Market.

The works on the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union have been finalized. In December 2011, 23 Member States agreed within the Council for an intergovernmental treaty to move forward for a new fiscal compact. Therefore, the euro Member States agreed that the Treaty will be signed in March. According to the euro area Member States leaders, the Treaty will significantly bolster the outlook for fiscal sustainability and euro area sovereign debt and enhance growth. The Treaty introduces a "balanced budget rule" to improve the surveillance within the euro area. Moreover, it also reinforces fiscal rules for the euro area by extending reversed qualified majority voting to the decision on whether to place a country in excessive deficit procedure.

In addition, the Treaty establishing the European Stability Mechanism is ready for signature, and the objective is that it enters into force in July 2012. The euro area Member States leaders already agreed in December to reassess in March the adequacy of resources under the EFSF and ESM. They also urged to Greece authorities and all parties involved to finalize negotiations on the new programme and welcomed the progress made by Ireland and Portugal besides welcoming the measures decided and already enacted by Italy and Spain to reduce the public deficit and boost growth and competitiveness and call on them to pursue their important efforts for fiscal consolidation and structural reforms.

At the informal meeting of the European Council held in Brussels on 30 of January, the European leaders also agreed on the immediate actions to help promote growth and create jobs. Measures recommended included re-directing available EU funds towards support for young people to get into work or training as well as improving cross-border labour mobility. They also agreed in measures to enable SMEs to grow and create jobs in order to boost the financing of the economy, and the simplification of accounting requirements and public procurement rules among other measures in order to complete the Single Market.