European Council

The Council: 

1. RECALLS its Conclusions of 19 June 2015 on a Capital Markets Union[1] encouraging the Commission to elaborate a comprehensive, targeted and ambitious action plan for building a Capital Markets Union (CMU) as a lever for more jobs, growth and investment; 

2. WELCOMES the adoption by the Commission of the Action Plan on Building a Capital Markets Union[2] with a step-by-step approach based on a thorough analysis and the Commission's presentation of a first package of more concrete proposals and initiatives[3]; and STRESSES the importance of preserving momentum also in the long-term with a concrete and ambitious agenda for further on-going action; 

3. RECALLS that the CMU is an important pillar of the Commission Investment Plan to promote jobs and growth in Europe by continuing the three pronged approach (growth-friendly fiscal consolidation, structural reforms, investment) as well as by removing unjustified barriers to cross-border investment and diversifying the sources of funding, thus supporting notably the financing of infrastructure and SMEs; 

4. UNDERLINES the relevance of the CMU as a project of shared importance for EU-28, and as a priority for completing the Economic and Monetary Union[4], WELCOMES the opportunity that it presents for all Member States, including those with less developed capital markets to tap into deeper European financial markets and STRESSES the principles of subsidiarity, proportionality as well as preservation of financial stability and investor protection to be respected in all related initiatives; 

5. RECALLS that well-functioning cross-border capital markets benefit the smooth transmission of monetary policy and facilitate more private risk-sharing, thus contributing to making the EU-28, including the euro area, more resilient to shocks; 

6. SUPPORTS accordingly the following priority areas, including those identified by the Commission:

• increasing the variety of financing sources available for all businesses, in particular SMEs and small mid caps, from smaller or larger financial markets, including high-growth potential and innovative SMEs, and building on successful solutions for connecting them to a wider basis of prospective investors. This should be achieved by using a balanced approach based amongst others on market-led initiatives and self-regulation of the market where appropriate and possible, as well as legislative initiatives where unjustified barriers warrant an intervention from the legislator; and, especially by advancing the work streams in areas such as: the Prospectus Directive, Venture Capital, Crowdfunding, Private Placements, Mini Bonds, SME growth markets and SME credit information;
• ensuring an appropriate regulatory environment for long-term, sustainable investment and financing of Europe's infrastructure, including steps to attract private capital in order to realise the targets of the Investment Plan for Europe, and to assess and support financial market developments that contribute to environmental sustainability;
• increasing investment and choices for retail and institutional investors within a framework of adequate investor protection, beginning with the publication of a Green Paper focused on retail financial services and insurance in the last quarter of 2015, as well as through exploratory work on the potential merits of a European framework for long-term individual savings schemes such as third pillar personal pensions;
• enhancing the capacity of banks to lend, in particular to SMEs, notably through establishing an appropriate framework to revive simple, transparent and standardised securitisation, exploratory work on the potential merits of a European framework for covered bonds, building on national regimes that work well, by addressing the issue of Non-Performing Loans, and by ensuring a proportionate treatment for credit institutions, notably smaller ones, consistent with the single market;
• assessing the coherence, consistency and the cumulative impact of the financial reforms  on the financing of the real economy; and,
• examining and dismantling unjustified cross-border barriers to the development of capital markets for all 28 Member States, including where appropriate in the area of clearing and settlement and other market infrastructures, and also finding (through appropriate tax working groups) pragmatic solutions to long-standing tax obstacles such as double taxation linked to current withholding tax arrangements, while duly considering the implications on financial stability and national legal regimes;

7. CALLS for a swift adoption of the Regulation of the European Parliament and of the Council laying down common rules on securitisation and creating a framework for simple, transparent, and standardised securitisation and amending Directives 2009/65/EC, 2009/138/EC, 2011/61/EU and Regulations (EC) No 1060/2009 and (EU) No 648/2012 and of the Regulation of the European Parliament and of the Council amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms, with the aim of reviving securitisation markets, thereby increasing the capacity of banks to lend and allowing for channelling funds efficiently from non-banks to the real economy‎ and preserving financial stability, whilst decreasing overreliance on external ratings; and, maintaining an adequate risk sensitivity;

8. LOOKS FORWARD to the Commission's proposal to revise the Prospectus Directive to make it easier and cheaper for firms to raise funding on public markets by eliminating overly burdensome requirements while  improving investor protection, especially through the focus on relevant, comprehensible information;

9. STRESSES the importance of preserving financial stability objectives of financial legislation,  consumer and investor protection and the single market, including through the single rulebook, while taking good note of the Commission's intention to review this body of law to ensure coherence, internal consistency and proportionality, accordingly LOOKS FORWARD to the outcome of the Commission's Call for evidence on the EU regulatory framework for financial services; and, SUPPORTS the maintenance of a stable regulatory environment in the EU. 

10. INVITES the Commission, in the context of the relevant sectoral reviews, to assess the impact of third-country regimes, including equivalence and mutual recognition, in current regulations on the structure of European capital markets, the competitiveness of the European financial industry as well as effective access to third-country markets; 

11.    ENCOURAGES the Commission to consult, without delay, the Member States with a view to identifying  business insolvency law-related barriers to the development of a single market for capital, as referred to in the Action Plan; WELCOMES the Commission's intention to submit, on the basis of those consultations and having due regard to the complexity of the involved subject matters and the resulting need for taking a balanced approach, a proposal aiming to ensure, in full respect of the principles of subsidiarity and proportionality, that the main business insolvency-related obstacles identified are tackled, drawing on best practices and well-performing national frameworks; specifically, NOTES the possible need to establish, where necessary, a reasonable timeframe for completing insolvency proceedings and increasing transparency on the possible outcomes of insolvency procedures across the EU and improving access to early restructuring possibilities subject to further analysis; 

12. INVITES the Commission to present the outcome and possible follow-up of its study on the cross-border issues in the area of directors' liability and disqualifications as soon as possible;

13. NOTES THAT analysis by the Commission of possible barriers in other relevant areas, such as for instance securities law, may be needed before taking actions in these  areas to further facilitate cross-border investing; 

14. EMPHASIZES the Commission's conclusion that the next steps towards Capital Markets Union can be taken based on the existing mandates of the European Supervisory Authorities (ESAs); RECOGNISES the need for the ESAs to work on strengthening supervisory convergence, where appropriate through peer-review procedures and, if necessary, enhanced coordination, identifying where a more collective approach can improve the functioning of the single market for capital, including involving initiatives by national competent authorities; and STRESSES the need for all national authorities to implement EU financial rules fully and consistently in order to ensure the highest levels of conduct and integrity across the EU capital market; 

15. NOTES the importance of the Commission's plan to further analyse, in a White Paper, by mid-2016, the governance and financing of the ESAs, with due account of their European role; 

16. ACKNOWLEDGES the need to review the EU framework for preserving financial stability to cater for potential risks beyond the banking sector; 

17. REAFFIRMS the commitment of Member States to the long-term vision of a genuine Capital Markets Union, the objective of a higher level of financial integration and stronger capital market financing together with enhanced bank financing, thus leading to a more balanced financing structure between equity and debt of EU businesses and further cross-border private risk-sharing, and to the effective implementation of agreed CMU actions at national level; and, in this spirit, LOOKS FORWARD TO working with the Commission to develop a roadmap to identify existing barriers to the free movement of capital and ways to remove the most damaging and unjustified ones; and to discuss the proposal of the Commission  to address the debt-equity bias in taxation within the appropriate fora; and INVITES the Commission to continue the public debate on the ability of the EU financial industry to contribute to a successful CMU; 

18. ENCOURAGES the Commission and Member States to focus on addressing the issue of the  financial literacy of future investors and other market agents, which is important for the overall and balanced success of the CMU project; 

19. WELCOMES the Commission's intention to develop a strategy for providing technical assistance to Member States where needed to reinforce specific capacities of national capital markets; 

20. INVITES the Commission to report, at least every six months to the Council through the Financial Services Committee and the Economic Financial Committee, providing an evidence-based assessment of the progress made in the build-up of the Capital Markets Union including on the basis of key indicators and evidence.

 [1]  Doc. 10148/15 
 [2] Doc. 12263/15
 [3] Commission Proposal for a Regulation of the European Parliament and of the Council laying down common rules on securitisation and creating a framework for simple, transparent, and standardised securitisation and amending Directives 2009/65/EC, 2009/138/EC, 2011/61/EU and Regulations (EC) No 1060/2009 and (EU) No 648/2012; Commission Proposal for a Regulation of the European Parliament and of the Council amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms; Consultation Document on covered bonds, Consultation on venture capital and social entrepreneurship funds, Call for evidence on EU regulatory framework for financial services. 
 [4]  Completing Europe's Economic and Monetary Union: Report by the 5 Presidents. 

Good evening and welcome to the Eurogroup press conference.
First of all we discussed the Bank Recovery and Resolution Directive (BRRD) and specifically the setting up of the Single Resolution Board (SRB). Ms Elke König was with us and informed us on all the preparations they are doing to have the SRB up and running on the 1 January 2016. A lot of work has to be done - the organisation has to be put up, rules and regulations have to be designed etc., so we were very impressed by the work she has done so far and hope to welcome her in the Eurogroup on a more regular basis. There were two issues that she draw to our attention:

1. Setting up of the national credit lines. That will also be on the agenda of tomorrows Economic and Financial Affairs Council;
2. Timely ratification of the Intergovernmental Agreement and transposition of the BRRD by all the Member States.

I am happy to inform you that the Dutch Senate will vote on the last part of legislation tomorrow (10 November 2015) so knock on wood. Then we will have our work done, and all that in preparation for 1 January 2016, of course.

The second issue on our agenda was Greece. We were informed by the Commission, the ECB and the IMF on the state of play, and by the ESM. A lot of progress and work has been done in terms of programme implementation, further development and it has been a very cooperative process. This has been emphasised by all sides. So that was very good news.

We've also taken stock of the ongoing recapitalisation exercise with Greek banks. There too a lot of work has been done and the size of the recapitalisation is smaller than expected earlier, and actually the speed of the process is also going quite smoothly so far. The next thing to do is to have all the financial sector measures in place before the completion of the recapitalisation process. Our Greek colleague Efkleidis Tsakalotos gave his commitment to get that done. There are open issues which you may have heard about which have to do with nonperforming loans, and more specifically household insolvency. So more work needs to be done to get an agreement also on those issues. Implementation needs to be finished over the course of the coming week. All of that is necessary to finalise the process of the recapitalisation. As you remember €10 billion has already been put in a segregated account in the ESM, which is ready if needed and when needed for the recapitalisation process, but of course the agreed conditions need to be met.

So there are two key issues - one is about the governance of the banks, and the other key issue still to be resolved is about household insolvency. So those conditions are to be met in the coming days. We have mandated the Euro Working Group to reconvene at the latest at the beginning of the next week to take stock of the compliance report from the institutions. Hopefully the whole first set will be implemented, but also some of the key issues regarding the governance of the banks will be put in place. And then at the beginning of the next week the EWG can assess that and come to a positive conclusion, which will then be followed by an ESM Board of Governance meeting because they in the end have to take the decisions to make available the €10 billion, or less if less is needed at that point. So that's the process that we've outlined for the coming days and we are all committed to get that done in time. 

Let me quickly mention a couple of other issues on our agenda. We were informed, on the basis of the autumn forecast, of the ongoing economic recovery in the euro area. The recovery will continue despite some global economic issues which we are all aware off. There was great consensus that at the same time we need to use this period and the benign circumstances to push forward structural reforms to get higher potential growth in the euro area. 

On the future of the monetary union, we had an initial exchange of views on the follow-up to the 5 Presidents' report. In October the Commission presented its first proposals on economic governance and today we had a first round of debate on that, and specifically on external representation. Not much I can say about that. It was a first round, and on some other issues like the Fiscal Board and the Competitiveness Authorities. The debate on those governance issues will be on the Ecofin agenda tomorrow, so we'll pick up on that from there. 

These were the main highlights from me.

The Council, in full cooperation with the Commission, having in mind the necessity to safeguard the functioning of the Schengen area and to reduce migratory pressures, agreed the following measures to implement fully the orientations already agreed by the European Council and the Council in compliance with EU acquis. It decided:

1.             to encourage Member States and relevant third countries to intensify ongoing efforts to substantially increase reception capacities, for which the Council welcomes rapid identification by the Commission of additional financial support for affected countries and for the UNHCR;

2.             that the establishment of hotspots in Italy and Greece will be intensified, with support of the Member States, the Commission, Frontex and EASO, so that all of these function by end of November 2015 as previously agreed;

3.             that all participating Member States will speed up the relocation process, notably by communicating their capacities for first relocations and by nominating as appropriate relocation liaison officers to Italy and Greece, preferably by 16 November 2015. In parallel, Italy and Greece will substantially accelerate the preparatory steps necessary for relocation. The Council and the Commission support Italy and Greece in their decisions to register migrants before further handling their case on the mainland, in particular with Eurodac machines provided by Member States. Member States endeavour to fill by 16 November 2015 the remaining gaps in the calls for contribution from Frontex and EASO, which will simplify the profiles required and the appointing procedures;

4.             that Member States, with the full support of the Commission and Frontex, will substantially improve the return rate. Member States should also provide return experts for the pool of European Return Liaison Officers for rapid deployment;

5.             that Member States, to overcome the potential lack of cooperation of migrants as they arrive into the European Union and while fully respecting the fundamental rights and the principle of non-refoulement, will make use of possibilities provided by the EU acquis, such as (1) asylum procedures at borders or transit zones; (2) accelerated procedures; (3) non-admissibility of subsequent asylum applications by the individuals concerned; (4) coercive measures, including, as a last resort, detention for a maximum period necessary for the completion of underlying procedures. In addition to existing guidelines on systematic fingerprinting, the Commission is invited to issue, in cooperation with EASO and Frontex, further practical guidance on the consequences of the registering obligations in the light of the Dublin rules, the relocation decisions and the international readmission obligations.

Furthermore, the Council agrees to explore the concept of processing centres in countries where the hotspot approach has not been implemented, supported by the Commission and relevant EU agencies, in order to organise access to international protection and/or for the purpose of return;

6.             to fully support the Commission in pursuing contingency planning of humanitarian assistance for the Western Balkans, in light of the approaching winter. The Union civil protection mechanism should be used to the maximum possible extent. The Council encourages Member States to provide further assistance through this mechanism;

7.             as regards controls for entry and exit at external borders, to assist the Member States concerned in respecting their legal obligation to perform adequate controls, to manage and to regain controls of the external borders and increase coordination of actions relating to border management. This will involve a range of supporting measures by Frontex, gradually extending, as necessary, to the deployment of Rapid Border Intervention Teams (RABITs) in accordance with EU rules;

8.             to support the upscaling by 1 December 2015 of the Poseidon Sea Joint Operation in Greece within the current operational plan;

9.             to conduct at the December Justice and Home Affairs Council, on the basis of the 8th bi-annual reporting by the Commission, a thorough debate on the functioning of the Schengen area (1 May 2015 - 31 October 2015) and on the lessons learned from temporary reintroductions of controls at internal borders;

10.         to invite Europol to accelerate the establishment of the European Migrant Smuggling Centre (EMSC) to strengthen its capacity to support Member States in better preventing and fighting against migrant smuggling. The EMSC will encompass the Joint Operational Team (JOT) Mare initiative and further extend Europol actions, including with a focus on the Western Balkans area, in close cooperation with all relevant EU agencies, and in particular Frontex and Eurojust. The swift and effective deployment of officers at the hotspots on key migratory routes should be a component of this approach;

11.         to invite Member States, in coordination with the Commission, to set up by 1 December 2015 a network of single operational contact points on migrant smuggling, as set out in the EU Action Plan against Migrant Smuggling 2015-2020, while stepping up their efforts to intensify investigation and prosecution of migrant smugglers and traffickers;

12.         to continue examining pending legislative proposals on a crisis relocation mechanism and on safe countries of origin as already planned, as well as on other priority actions such as on the adaptation of the Dublin system and on the gradual establishment of an integrated management system for external borders;

13.         to invite the Commission and the High Representative to press for practical results on return and readmission in their bilateral dialogues, notably during the upcoming high-level meetings with Afghanistan, Morocco, Nigeria, Pakistan, Tunisia and Turkey. By its next meeting on 3-4 December, the Council expects a first progress report on these dialogues. This will allow to exchange views on the appropriate incentive packages to be used vis-à-vis third countries;

14.         that the first European Migration Liaison Officers (EMLOs) should be deployed as a matter of priority to Ethiopia, Niger, Pakistan and Serbia by the end of January 2016;

15.         to reiterate the importance of Member States' resettlement activities to address the migration crisis, noting progress on this so far including at EU level. The Council agrees that further efforts should be made to enhance resettlement opportunities with an emphasis on certain priority third countries. It invites the Commission to continue its work on resettlement as a matter of priority;

16.         in order to secure concrete steps on border control, on the prevention of irregular migration and on the fight against trafficking and smuggling of migrants, to support accelerating the fulfilment of the visa liberalisation roadmap with Turkey towards all participating Member States and the full implementation of the readmission agreement, in the context of the enhanced cooperation foreseen in the action plan;

17.         to define, as a matter of urgency, a common information strategy addressed to asylum seekers, migrants, smugglers and traffickers aiming at (1) discouraging migrants to embark on perilous journey and to have recourse to smugglers, (2) explaining how EU rules on the management of external borders and international protection operate, including resettlement, relocation and return, (3) disseminating counter-narratives to the ones being used by the traffickers and smugglers of migrants, (4) informing about criminal prosecutions against traffickers and smugglers and (5) informing about return operations. As part of an information strategy geared at reducing pull factors, it should be clearly explained that migrants must register in their first Member State of arrival; that, under EU law, asylum seekers have no right to choose the Member State responsible for examining their application; and that migrants without a need of protection will be swiftly returned. Furthermore, a clear message should be passed that migrants cannot refuse to cooperate with the relevant national authorities. Henceforth, all necessary measures will be taken by Member States to prevent, deter and draw the consequences of such movements and non-cooperation. The Commission will pull together in the coming days a dedicated team from all relevant institutional actors to deliver on these objectives and will inform about the implementation at the Council meeting on 3-4 December 2015; 

18.             to support the Presidency's decision to upgrade the activation of the Integrated Political Crisis Response (IPCR) from information-sharing to full activation mode including by providing information to feed the ISAA process, by contributing to the identification of operational gaps and by supporting communication activities, thereby improving political coordination and decision-making process at EU level. In this framework, on the basis of the needs and gaps identified in the ISAA reports, roundtables will be convened regularly for the management of the migration crisis, bringing together appropriate expertise in order to allow a timely policy coordination and response at EU level, in particular on the implementation of interlinked measures on borders, reception capacities, hotspots and returns, on financial and human resources pledges and on operational and logistical priorities.

The Council (Competitiveness) took stock of the serious challenges faced currently by the European Steel industry. 

The EU steel sector suffers from major global overcapacity in production, which pushes down prices and encourages trade distorting behaviour from competing regions. High energy costs are eroding margins. And the resulting closure of steel plants is costing thousands of jobs. 

The Council agreed on the gravity of the situation as well as on the need to take concrete actions that will help ensure the long-term viability of a modern European steel sector. 

The Council also considered that these measures should be part of a comprehensive approach aiming at creating competitive framework conditions for EU industry as a whole, including through a predictable and consistent regulatory environment as well as measures to stimulate innovation, since many of the issues faced by the steel sector are shared by other energy intensive industries. 

Taking into account the results of the Council discussion, the Presidency considers that the following concrete actions should be taken as a matter of priority: 

• To intensify or launch discussions involving all important steel producers in the context of the OECD Steel Committee and through the Commission's bilateral steel dialogues with third countries like China, Russia, Belarus, Turkey and India.
• To make full and timely use of the full range of EU trade policy instruments to ensure a global level playing field and to address restrictive measures in third countries in particular as regards the steel sector.
• To take a constructive approach when it comes to the modernisation of Trade Defense Instruments that further streamline and expedite their operation, increase transparency, predictability, effectiveness and enforcement.
• To further improve access for the EU steel industry to third markets, including through public procurement, through bilateral and multilateral negotiations and implementation.
• To make full use of the Investment Plan for Europe to upgrade and modernise the steel sector through use of the European Investment Advisory Hub and the European Fund for Strategic Investments.
• To make best use of the possibilities given under the revised State Aid rules to support Energy Intensive Industries in R&D&I, training, environment, employment and ETS costs.
• To improve the competitiveness of sectors most at risk of carbon leakage, including the steel industry, by considering, as part of the reform of the European emissions trading system (“EU ETS”):
  - a more focused mechanism for free allocation of allowances, for example through a tiered approach;
  - elements to minimise the need for a cross-sectoral correction factor by the end of ETS phase IV, while creating the right incentives for industrial innovation and enhancing the possibility to increase production levels, in line with the conclusions of the October 2014 European Council.
• To support the swift implementation of the European Energy Union to ensure access to secure, affordable and climate-friendly energy.
• To fully exploit the possibilities under the forthcoming Communication on the Circular Economy.
• To make best use of the available EU instruments and funding, such as the European Globalisation Adjustment Fund and the European Social Fund, for upskilling workers and facilitate their re-integration into the labour market in case of mass redundancies in any industrial sector, including the steel industry.

To follow up on this extraordinary meeting of the Competitiveness Council, it has been agreed to call for a special High Level stakeholders' conference, involving the social partners, to review the current situation and consider policy actions, in the context of the ongoing work of the High Level Group on Energy Intensive Industries.

The implementation of the 2013 European Steel Action Plan should be assessed in the context of that meeting.

First of all, allow me to express cautious optimism, and I have to underline of course the word cautious. Tonight leaders took important decisions that will help secure the Union's external borders. 

We welcomed the agreement of an EU-Turkey joint action plan to tackle the current migratory crisis. Our intensified meetings with Turkish leaders here in Brussels,  Ankara, and in New York in the last couple of weeks, were devoted to one goal: stemming the migratory flows that go via Turkey to the EU. The action plan is a major step in this direction. Still, as I made clear from the very start, an agreement with Turkey makes sense only if it effectively contains the flow of refugees. Here let me thank Jean-Claude and the Commission for the great work in negotiating the action plan, it was really a demanding and difficult issue and all of us were very impressed by the effectiveness and impressive pace.

Second, we agreed to work on an integrated border management system that will go beyond the Frontex mandate. In  the coming months, the agency will be developed into a more operational body. Our aim is to give Frontex the right to return irregular migrants on its own initiative, and to make it more proactive in protecting the external borders. In the meantime, Member States will be ready to send hundreds more border guards to Frontex and EASO to secure the hotspot areas in Greece and Italy.

Progress on  genuine border security is in my opinion, a very important achievement of tonight. Not because I have advocated the need to protect the EU's borders, but because it is our first obligation to protect the European community, and to guarantee public order. We have made a step in this direction.

Third, we also discussed broader challenges in order to be ready for a new influx of refugees next year. We had a debate on the future of the Dublin regulation, on the EU border guard system and on the specific role of hotspots. These are all divisive issues and the goal today was to  have a first serious exchange of views on them. If we are not able to find humanitarian and efficient solutions, then others will find solutions which are inhumane, nationalistic and for sure not European.

And finally on Britain: I briefed leaders on the preparatory discussions between my officials and the UK over the last months. We welcomed Prime Minister Cameron's commitment to set out the UK's specific concerns in writing by early November. Thank you

This morning, we had useful discussions with the social partners on their role in stepping up employment and growth in Europe. The recovery is under way, but Europe continues to pay the social costs of the crisis. The political damage, I have in mind the rise of populism for example, is also growing. Our exchange highlighted that we need to work on the social dimension of the Economic and Monetary Union. The Five Presidents' Report has given us ideas on how to do this.

The Social Summit also discussed the refugee crisis, including the challenge of receiving and integrating refugees coming to Europe with no prospect of being able to return home in the medium term. The social partners have a huge role to play here. And finally, we also discussed the possible impact the migration influx may have on the European labour market and our economy.

Let me now turn to the European Council. We agreed in September that our priority should be strengthening the EU´s external borders, as well as increasing our support for the countries in the neighbourhood and the refugees there. And today we will build on that.

First, I expect leaders to agree a set of conclusions that will make full use of Frontex now and develop it into a more operational body, including the right to initiate and conduct returns, and be pro-active when it comes to protecting external borders.

Second, in the context of Valetta Summit with the African countries, Turkey and the wider Middle East region, we will discuss what the "more for more" principle should mean in practice. The aim of all these talks will be an effective return and readmission policy, prevention of illegal migration, and creating legal migration channels.

But at the same time we must turn words into deeds when it comes to financial assistance to the region. National pledges to the UN High Commissioner for Refugees, to the World Food Programme that helps provide food to the displaced people in the region, and to the EU trust funds for the countries of origin and transit have not been fulfilled. We can and must do much better here. This is a point I will make tonight.

Third, we will address the very complex situation in the region. Our talks with Turkey are ongoing. Libya is still volatile. And the situation in Syria is deteriorating. All this may lead to a new massive exodus of refugees. It is our obligation to be prepared for all possible scenarios. We must ask ourselves if the decisions we are going to take are sufficient to contain a new migratory wave.

Finally, leaders need to start discussing, together, some of the big challenges in the medium and long term. On the future of the Dublin system, which is now in force. On the specific role of hotspots in light of different opinions regarding their character and purpose. And on the strengthening of our external borders, including a possible EU border and coast guard system. We will not find a solution today but we need to start a serious discussion.

I also want to add how impressed I was by what was said during the tripartite social summit about the problem of refugees. That this problem, this challenge, can be transformed into an opportunity. And that it is crucial here to combine realism with decency, pragmatism with solidarity. Our partners showed an approach towards refugees without any prejudice, without ideological orthodoxies, help-oriented and full of common sense. For me this is a source of cautious optimism, and I thank you for your support in this context. Thank you.

The EU welcomes the signing of a Nationwide Ceasefire Agreement (NCA) between the Government of the Republic of the Union of Myanmar and Ethnic Armed Organisations. We congratulate the parties on their determination to conclude a challenging negotiation process. After decades of armed conflict and civilian suffering, this day marks a significant milestone on Myanmar/Burma's road to peace, security and prosperity. 

Compromises were made by all parties, demonstrating strong political will to address long-standing grievances through dialogue and co-operation rather than conflict and violence. 

The signing of the NCA is essential to establish a just and lasting peace in Myanmar/Burma. It allows for the start of a comprehensive, inclusive and credible political dialogue which will be the next step towards national reconciliation, respect for the rights of persons belonging to minorities and equitable development for all. 

The EU notes that not all ethnic armed organisations have signed the NCA today. It is important that ongoing dialogue with the groups that have not signed is prioritised in order to continue to build trust. We welcome the inclusion of these groups, as observers, in the next phase of the process. 

As a long-standing partner and active supporter of Myanmar/Burma's peace process, the EU is honoured to be one of the parties invited to sign the Nationwide Ceasefire Agreement as an international witness. The EU and its Member States will continue to closely follow the peace process. We remain committed to further supporting it. 

We will meet on Thursday against the background of refugee pressure that has been increasing in recent months. We agreed in September that our priority should be strengthening of the EU's external borders, as well as increasing our support for the countries in the neighbourhood and the refugees there.

Our natural reaction was to seek solutions to the refugee crisis, not only internally, but also by addressing the root causes through cooperation with the countries of origin and transit. As a result, the EU has engaged in an intensive dialogue with Turkish leaders as the biggest transit country. The goal of my talks in Ankara was to stem the wave of refugees to Europe. An agreement with Turkey makes sense if it effectively reduces the inflow of refugees. Concessions will only be justified when this goal is achieved.

We can already make the first assessment of our actions. One thing is beyond any dispute. The situation in the region is difficult and politically very complex. Just to give one example, Turkey is calling on us to support the establishment of a safe zone in northern Syria, whereas Russia -increasingly engaged in Syria - is openly rejecting this idea. There is no doubt that our strengthened cooperation with the region is indispensable, but it will be a long march. I propose that we discuss our common approach to Turkey and Syria over dinner.

Even if the influx of refugees slows down during winter, we must be ready for spring and the threat of bigger waves flowing to Europe. In fact, all the leaders I met in the region spoke about millions of potential new refugees. As exaggerated as this opinion may sound, it is our obligation to be prepared for all scenarios. We must ask ourselves if the decisions we have taken so far, and the ones we are going to take on Thursday, are sufficient to contain a new migratory wave. We need to face real challenges and answer serious questions concerning our methods of action.

Let us be clear about one thing. The exceptionally easy access to Europe is one of the main pull factors. In this context we should consider:
1. The future of the Dublin system, which is now in force - whether to keep it as it is or to look for alternatives;
2. The specific role of hotspots in light of different opinions as to their character and purpose;
3. The strengthening of our external borders, including a possible EU border guard.

As regards the organization of the Summit, the President of the European Parliament will join us at the beginning of our meeting at 4pm. After the exchange we will start our first session in order to discuss migration and to finalise conclusions. During this session, we will also take stock of the next steps with regard to the UK referendum on its membership of the EU, and confirm our commitment towards seeking viable solutions. President Hollande will raise the issue of the Paris COP 21 preparations with a view to making it a European and global success. Then, we will also review the work on the report on the future of the EMU.

We will continue over dinner with the international aspects of the migratory crisis which I have listed above. Finally, we will have a brief update on the most recent meeting of the Normandy Format. I look forward to seeing you all in Brussels

Thursday 27 August 2015
12.30 Working lunch with President of Ukraine Petro Poroshenko (photo opportunity - press statements ±14.00)

Updated Media advisory, visit of President of Ukraine Petro Poroshenko

On 12 October 2015, the Council adopted conclusions on Migration.

Place:        ECC, Luxembourg
Chair:        Jean Asselborn, Minister for Foreign and European Affairs of Luxembourg  

All times are approximate and subject to change  

+/- 08.30
Arrivals  

+/- 09.00
Doorstep by Minister Asselborn 

+/- 10.00
Beginning of Council meeting
Roundtable (TV/photo opportunity)
Adoption of the agenda
Adoption of A-items
Resolutions, decisions and opinions adopted by the EP at its part-sessions  

+/- 10.20
Preparation for the European Council meeting on 15 and 16 October 2015  

+/- 12.10
Annual programming - Letter of intent from the Commission  

+/- 12.30
Any other business

+/- 13.00
Press conference (live streaming)

On 12 October 2015, the Council adopted conclusions on Bosnia and Herzegovina.

On 12 October 2015, the Council adopted conclusions on South Sudan.

1. The conflict in Syria and the suffering of the Syrian people is showing no sign of abating. The scale of the tragedy, having killed 250,000 men, women and children, displaced 7.6 million inside the country and sent over 4 million fleeing into neighbouring and other countries, is now the world's largest humanitarian disaster, with no parallel in recent history. The EU, as the largest donor, has demonstrated its willingness and commitment to do what it can to alleviate the humanitarian consequences. As the crisis intensifies there is an increasingly urgent need to find a lasting solution that will end this conflict. Only a Syrian-led political process leading to a peaceful and inclusive transition, based on the principles of the Geneva communiqué of 30 June 2012, will bring back stability to Syria, enable peace and reconciliation and create the necessary environment for efficient counter terrorism efforts and maintain the sovereignty, independence, unity and territorial integrity of the Syrian State. There cannot be a lasting peace in Syria under the present leadership and until the legitimate grievances and aspirations of all components of the Syrian society are addressed.
   
   
2. The EU's objective is to bring an end to the conflict and enable the Syrian people to live in peace in their own country. The international community has to unite around two complementary and interlinked tracks - a political one that aims to bring an end to the civil war by addressing all the root causes of the conflict and establish an inclusive political transition process that will restore peace to the country - and a security one to focus on the fight against the regional and global threat of Da'esh.
   
   
3. The EU reiterates its full support to the UN-led efforts and the work of UN Special Envoy Staffan de Mistura to build this political track. The EU emphasizes the need to accelerate the work of the entire international community on the political track in the framework of the UN-led process. The EU is already actively contributing to the UN initiatives and will increase its diplomatic work in support of the UN-led efforts, including the UN Special Envoy's proposal for intra-Syrian working groups.
   
   
4. We call on all Syrian parties to show a clear and concrete commitment to the UN-led process and to participate actively in the working groups. The EU underlines the urgency for the moderate political opposition and associated armed groups to unite behind a common approach in order to present an alternative to the Syrian people. These efforts must be inclusive involving women and civil society. The EU will sustain its support to the moderate opposition, including the SOC, and recalls that it is a vital element in fighting extremism and has a key role to play in the political transition.
   
   
5. The EU will continue to put all of its political weight, actively and effectively, behind UN-led international efforts to find a political solution to the conflict, and calls on regional and international partners to do likewise. We urge all those with influence on the parties, including on the Syrian regime, to use this influence to encourage a constructive role in the process leading to a political transition and to end the cycle of violence. The EU will pro-actively engage with key regional actors such as , Saudi Arabia, Turkey, Iran, Iraq and international partners within the UN framework to build the conditions for a, peaceful and inclusive transition. In this context, the Council recalls its decision to task the HRVP to explore ways in which the EU could actively promote more constructive regional cooperation.
   
   
6. The protection of civilians in Syria must be a priority for the international community. The EU condemns the excessive, disproportionate and indiscriminate attacks that the Syrian regime continues to commit against its own people. The Assad regime bears the greatest responsibility for the 250.000 deaths of the conflict and the millions of displaced people. The EU recalls that international humanitarian law applies to all parties, and human rights need to be fully respected. We call on all parties to stop all forms of indiscriminate shelling and bombardment against civilian areas and structures such as hospitals and schools and, in particular, on the Syrian regime to cease all aerial bombardments, including the use of barrel bombs in line with UNSC Resolution 2139 and the use of chemical weapons in line with UNSCR 2209. The systematic targeting of civilians by the regime has led to mass displacements and encouraged recruitment to and the flourishing of terrorist groups in Syria. This calls for urgent attention and action.
   
   The EU will reinforce its efforts to scale up the implementation of the UNSC Resolutions 2139, 2165 and 2191 to deliver cross-border and cross line assistance in order to help those Syrians most desperately in need.
   
   
7. The EU strongly condemns the indiscriminate attacks, atrocities, killings, conflict-related sexual violence, abuses of human rights and serious violations of international humanitarian law which are perpetrated by Da'esh and other terrorist groups, against all civilians, including against Christians and other religious and ethnic groups. The EU supports international efforts and initiatives to address these issues. The EU condemns Da'esh's deliberate destruction of cultural heritage in Syria and Iraq, which amount to a war crime under international law.
   
   
8. Those responsible for war crimes and crimes against humanity in Syria must be held accountable. The EU expresses its deepest concern about the findings of the Independent International Commission of Inquiry on Syria. The allegations of torture and executions based on the evidence presented by the Caesar report are also of great concern. The EU reiterates its call to the UN Security Council to refer the situation in Syria to the International Criminal Court.
   
   
9. The EU supports the efforts of the Global Coalition to counter Da'esh in Syria and Iraq. As a consequence of its policies and actions, the Assad regime cannot be a partner in the fight against Dae'sh. Action against Da'esh needs to be closely coordinated among all partners, and needs clearly to target Da'esh, Jabhat al-Nusra, and the other UN-designated terrorist groups.
   
   
10. The recent Russian military attacks that go beyond Dae'sh and other UN-designated terrorist groups, as well as on the moderate opposition, are of deep concern, and must cease immediately. So too must the Russian violations of the sovereign airspace of neighbouring countries.
    
    This military escalation risks prolonging the conflict, undermining a political process, aggravating the humanitarian situation and increasing radicalization. Our aim should be to de-escalate the conflict. The EU calls on Russia to focus its efforts on the common objective of achieving a political solution to the conflict. In this context it urges Russia to push for a reduction of violence and implementation of confidence-building measures by the Syrian Regime along the provisions of UNSC Resolution 2139.
    
    
11. The EU will intensify humanitarian diplomacy and seek ways to improve access and protection as well as to promote humanitarian principles and local consensus on guidelines for the delivery of aid.
    
    
12. The EU has substantially increased its financial efforts to support those who have fled the conflict, within and outside Syria, with new commitments to humanitarian aid and to longer-term work supporting the resilience of refugees in the neighbourhood. The EU and its Member states have already provided €4 billion for relief and recovery assistance to those affected by the conflict inside Syria and refugees and host communities in neighbouring countries. The EU and its Member States will continue to provide humanitarian assistance through the UN, ICRC and international NGOs. At the same time, the EU will increase its longer-term development and stabilization assistance, to these and other partners, including through the EU Regional Trust Fund recently established in response to the Syrian Crisis (the "Madad Fund") which has now been equipped with over €500 million in EU funding to be matched by efforts from EU Member States and other countries. The EU calls on other countries to sustain and increase their own contributions in response to the Syria crisis. The Council agreed specifically on the need to increase the level of cooperation and partnership with Lebanon, Jordan and Turkey to ensure equal access to shelter, education, health and livelihoods for refugees and their host communities with the support of additional EU assistance.

The EU welcomes and fully supports the Libyan Political Agreement that the UN SRSG Bernardino Leon presented to Libyan delegates in Skhirat on 8 October. It expresses appreciation to all those who have constructively participated in the negotiations over  many months, demonstrating a sense of responsibility and leadership. It equally welcomes the nomination of senior figures for the new Government of National Accord who will now have the responsibility to form a cabinet and oversee the swift implementation of the agreement. 

The EU calls on all Libyan parties to quickly approve and support this deal so that Libya can take the path of peace and prosperity. This is the only way to meet the aspirations of the Libyan people. The EU recognises that this will be an important first step in returning Libya on the path towards peaceful transition, but it is a step that is essential to take now. Those tempted to obstruct this agreement will be held responsible. 

The EU is ready to work in close partnership with the new Government of National Accord, once it is formed, to offer immediate and substantial  support in a number of different areas defined together with the Libyan authorities.

I condemn in the strongest possible terms the brutal bomb attack in Ankara today. I extend my sincere condolences to the victims and their loved ones. The attack on a peaceful march cynically exploits a sensitive moment for Turkey and the region. The European Union stands side by side with Turkey, its people and authorities in its efforts against terrorism and for reconciliation.

Place:         Luxembourg
Chair(s):    Federica Mogherini, High Representative for Foreign Affairs and Security Policy 

All times are approximate and subject to change

+/- 9.15 (ttbc)
Doorstep by High Representative Mogherini (VIP entrance)  

+/- 9.30
Beginning of the Foreign Affairs Council meeting
Roundtable (TV/photo opportunity)
- Adoption of the agenda
- Adoption of A-items
Libya
Syria 

+/- 13.00
Working lunch (subject - Migration) 

+/- 15.00
EU-ACP Relations (post 2020)
AOB  

+/- 15.30 (ttbc)
Press conference (live streaming)

Monday 12 October 2015
16:00 Meeting with Prime Minister of the Republic of Moldova Valeriu Streleț (photo opportunity)

 Tuesday 13 October 2015
08:00 Meeting with NATO Secretary-General Jens Stoltenberg (NATO headquarters)
13:00 Meeting with President of the European Commission Jean-Claude Juncker

 Wednesday 14 October 2015
10:00 Meeting with President of Latvia Raimonds Vējonis (photo opportunity)
14:00 Meeting with High Representative Federica Mogherini
15:00 Meeting with Prime Minister of the Czech Republic Bohuslav Sobotka
18:00 Inauguration of the exhibition "Bulgaria's Golden Treasures: Varna and the Oldest Gold in the World" (European Parliament)

 Thursday 15 October 2015
09:30  Tripartite social summit
12:30  Press conference of the Tripartite social summit
13:15  European People's Party Summit (Académie Royale de Belgique)
14:45 Meeting with Prime Minister of Sweden Stefan Löfven
15.15 Meeting with Prime Minister of Luxembourg Xavier Bettel
16:00  European Council

 Friday 16 October 2015
TBC  European Council

Place:             LEX building - Rue de la Loi, 145, Brussels 
Chair:             Mr Jean Asselborn, Minister of Immigration and Asylum of Luxembourg

All times are approximate and subject to change

+/- 12.30         Arrivals (live streaming)

14.20              Doorstep by Minister Asselborn

+/- 14.30         Beginning of Council meeting
                         Adoption of the agenda
           
+/- 14.40         Follow-up to the Council of 14 September 2015
                       
                         Proposal for a Council Decision establishing provisional measures in the area
                         of international protection for the benefit of Italy and Greece.

                        Any other business

tbc                   Press conference (live streaming)