European Council, Brussels, 23-24 October 2014

Author (Corporate)
Publication Date 23/10/2014
Content Type

Preview and reports of the European Council, Brussels, 23-24 October 2014.

Items discussed included:

- Climate and Energy Policy Package - Energy security - 2030 objectives
- Economic Issues
- Appointment of new European Commission

The main decisions were:

On 23 October 2014, EU leaders agreed on the 2030 climate and energy policy framework for the EU.

The European Council today endorsed 4 targets:

+ a binding EU target of at least 40% less greenhouse gas emissions by 2030, compared to 1990
+ a binding target of at least 27% of renewable energy used at EU level
+ an energy efficiency increase of at least 27%
+ the completion of the internal energy market by reaching an electricity interconnection target of 15% between members states and pushing forward important infrastructure projects

On energy security, the European Council endorsed further actions to reduce the EU's energy dependence and increase security of its electricity and gas supplies.

EU response to Ebola
The EU and its members states have already provided more than €600 million in medical care and assistance to the affected region. EU leaders discussed additional support to West Africa countries.

Christos Stylianides, the newly appointed Cyprus Commisioner, has been nominated EU Ebola coordinator. He will be in charge of better coordinating the international response to the crisis with member states and international partners.

On the 24 October 2014, the leaders also discussed the state of the European economy, based on a presentation by the European Commission and preliminary work completed in the General Affairs Council.

Economic issues
Taking into account the weak economic situation, EU leaders called for the swift implementation of the Strategic Agenda for the Union in Times of Change, which was agreed in June 2014.

The Commission, the Council and the member states are invited to translate the aims of the Agenda into concrete policy actions without delay. Priority should be given to those related to jobs, growth and competitiveness, and those aimed at empowering and protecting citizens.

The leaders also supported the Commission initiative to mobilise an extra €300 billion in public and private investment over the period 2015-2017. The European Council expects this initiative to be implemented without delay and to asses it in December 2014.

The leaders also welcomed the launch of the single supervisory mechanism, which is part of the banking union. It will start operating on 4 November 2014.

Euro Summit
The Euro Summit examined more particularly the economic and employment situation within the euro area. It agreed that closer coordination of economic policies is essential to ensure the smooth functioning of the Economic and Monetary Union.

The European Council also adopted the decision appointing the European Commission, enabling its entry into office on 1 November 2014.

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