Euro Summit

Role of the Euro Summit

The Euro Summit is a meeting of the member states of the euro area. The aim is to provide policy guidance to ensure the smooth functioning of the economic and monetary union. This aids coordination on all the relevant policy areas between the euro area member states.

Regular discussions on the specific responsibilities related to euro area membership also allow euro area countries to take greater account of the euro area dimension in their national policy-making.

As euro area issues have political and economic importance for all EU countries, they are also regularly discussed in European Council meetings.

• Economic and monetary union (background information)

Meetings

Euro summits take place at least twice a year. They are usually held in conjunction with European Council meetings in Brussels.

The arrangements for the summits are laid down in the Treaty on Stability, Coordination and Governance of the Economic and Monetary Union (TSCG), and in the rules of procedure, adopted on 14 March 2013.

• Rules for the organisation of the proceedings of the Euro Summits
• Meeting calendar

Members

The members of the Euro Summit are the heads of state or government from the euro area countries, the Euro Summit President and the President of the European Commission. In addition:

• the President of the European Central Bank is invited to take part
• the President of the Eurogroup may be invited to take part, as the Eurogroup is responsible for the preparation and follow-up of the summits
• the President of the European Parliament may also be invited to speak

Where appropriate, and at least once a year, leaders of non-euro area member states that have ratified the TSCG also take part in the summits.

President

Euro area leaders appoint the Euro Summit president by simple majority at the same time as the European Council elects its president and for the same term of office, which is 2.5 years and renewable once. So far, the same person has been the president of the Euro Summit and the president of the European Council. Currently, António Costa holds the title.

The Euro Summit president is responsible for convening, chairing and steering the summits. He or she also discusses euro area matters with the President of the Commission and the President of the Eurogroup.

The Euro Summit president reports to the European Parliament after each summit. S/he also informs all the non-euro area member states about the preparation and outcome of the summits.

History

Euro area leaders met in the Euro Summit format for the first time on 12 October 2008 in Paris, where they agreed on concerted action in response to the economic crisis. Further summits in this format were held in May 2010, March 2011, July 2011, and October 2011 in Brussels. In 2012, euro area issues were mainly dealt with at European Council meetings.

In the margins of the European Council meeting on 1-2 March 2012, 25 European leaders signed the TSCG. That treaty, which entered into force on 1 January 2013, formalised the Euro Summit.

The organisation of the Euro Summit and the role of its president are set out in Article 12 of the TSCG.

The first Euro Summit after the entry into force of the TSCG was held on 14 March 2013.

• Timeline: History

Documents

Documents and statements related to Euro summits from 2010-2014 are available via the following link:

• Euro Summit documents 2010-2014