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Draft Conclusions 282906

Draft Conclusions 282906

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Published by: Contexte on Jun 28, 2012
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05/16/2014

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COUNCIL OFTHE EUROPEAN UNIONBrussels, 27 June 201211942/12LIMITECO EUR-PREP 26NOTE
from: General Secretariat of the Councilto: DelegationsSubject: European Council (28-29 June 2012)- Draft conclusions
 In accordance with Article 2(3)(a) of the Council's Rules of Procedure, delegations will find attached the draft conclusions prepared by the President of the European Council, in closecooperation with the member of the European Council representing the Member State holding the six-monthly Presidency of the Council and with the President of the Commission.
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 During the last two and a half years, the European Union has taken important and far-reaching  steps to overcome the crisis and improve the governance of the EMU. However, Europe is onceagain going through a period of heightened tensions. The crisis surrounding sovereign debt and theweakness of the financial sector, together with persistent low growth and macroeconomicimbalances, are slowing down economic recovery and creating risks for the stability of EMU. Thisis having a negative impact in terms of unemployment and may weigh down Europe's potential tobenefit from a gradual improvement of the global economic outlook.We are therefore committed to taking resolute action to address financial market tensions, restoreconfidence and revive growth. We reaffirm our commitment to preserve the EMU and put it on amore solid basis for the future. Strong, smart, sustainable and inclusive growth, based on sound  public finances, structural reforms and investment to boost competitiveness, remains our key priority.This is why today we adopted a "Compact for Growth and Jobs", encompassing action to be takenby the Member States and the European Union with the aim of relaunching growth, investment and employment as well as making Europe more competitive. We also endorsed the country-specificrecommendations to guide Member States' policies and budgets. Finally we emphasised the rolethat the forthcoming Multiannual Financial Framework should play in strengthening growth and employment. The President of the European Council presented the report "Towards a Genuine Economic and Monetary Union" and was invited to develop a specific and time-bound road map.We are determined to take the measures required to ensure a financially stable, competitive and  prosperous Europe and thus enhance the welfare of citizens.
I. GROWTH, INVESTMENT AND JOBS
1.
 
The European Union will continue to do everything necessary to put Europe back on the pathof smart, sustainable and inclusive growth. Recalling the importance of fiscal consolidation,structural reform and targeted investment for sustainable growth, the European Counciladopted a "Compact for Growth and Jobs", providing a coherent framework for action atnational, EU and euro area levels, using all possible levers, instruments and policies (seeannex).2.
 
The European Council endorsed the country-specific recommendations which Member Stateswill translate into their forthcoming national decisions on budgets, structural reforms andemployment policies, thus bringing the 2012 European Semester to a close.
 
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 3.
 
Heads of State or Government agreed on the solution for the remaining issue of the UnitaryPatent. The seat of the Unified Patent Court's Central Division, along with the President'soffice and the Registry, will be located in Paris; given the highly specialised nature andquality standards, specialised clusters will be created in two sections of the UPC, one inLondon, the other in Munich, which will continue to deal with administrative matters. Inaccordance with Article 15 of the Agreement on a Unified Patent Court, that Court will haveexclusive competence in respect of actions relating to the validity or infringement of aEuropean patent with unitary effect.
II. REPORT ON EMU
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The report "Towards a Genuine Economic and Monetary Union" presented by the Presidentof the European Council, in cooperation with the Presidents of the Commission, Eurogroupand ECB, sets out the four essential building blocks for the future EMU: an integratedfinancial framework, an integrated budgetary framework, an integrated economic policyframework and strengthened democratic legitimacy and accountability. As a follow up, thePresident of the European Council is invited to develop, in close collaboration with thePresident of the Commission, the President of the Eurogroup and the President of the ECB, aspecific and time-bound road map for the achievement of a genuine Economic and MonetaryUnion. An interim report will be presented in October 2012 and a final report before the endof the year. There will be regular and informal consultations with the Member States and theEU institutions.
III. MULTIANNUAL FINANCIAL FRAMEWORK 
 5.
 
The European Council held an in-depth discussion with the President of the EuropeanParliament on the future Multiannual Financial Framework.

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