European Council

On 8 August 2016, the Council agreed not to impose fines on Portugal and Spain for their failure to take effective action to correct their excessive deficits. 

It also stepped up the excessive deficit procedure for both countries, setting new correction deadlines and giving notice of measures to be taken. 

On 12 July 2016, the Council found that neither country had taken effective action to reduce its deficit below 3% of GDP, the EU's reference value for government deficits. The Council's decisions triggered sanctions under the excessive deficit procedure, on the basis of article 126(8) of the Treaty on the Functioning of the European Union (TFEU). Fines of up to 0.2% of GDP could be imposed but, following reasoned requests from Portugal and Spain, the Commission proposed on 27 July 2016 to cancel the fines. The Council decided on 8 August not to reverse the Commission's proposal. 

EU fiscal rules additionally require the Commission to propose a suspension of all or part of the EU's structural and investment fund commitments or payments for 2017. The Commission decided however to make the proposal at a later stage, following a structured dialogue with the European Parliament. 

The new deadlines set by the Council are based on article 126(9) of the TFEU. Portugal is now required to correct its deficit by 2016 and Spain by 2018 at the latest. Effective action must be taken by 15 October 2016, and both countries must submit a report by that date. 

Portugal 

The Council calls on Portugal to reduce its general government deficit to 2.5% of GDP in 2016. Portugal must implement consolidation measures amounting to 0.25% of GDP this year. All windfall gains must be used to accelerate deficit and debt reduction, and Portugal must be ready to adopt further measures should budgetary risks materialise. 

Fiscal consolidation measures must secure a lasting improvement to the government's budgetary balance in a manner conducive to economic growth. 

Portugal has been subject to an excessive deficit procedure since December 2009, when the Council issued a recommendation calling for its deficit to be corrected by 2013. 

In April 2011 however, after several months of market pressure on its sovereign bonds, Portugal requested assistance from international lenders. It obtained a €78 billion package of loans from the EU, the euro area and the IMF. In October 2012, the Council extended the deadline for correcting the deficit by one year to 2014, in the light of the recession in Portugal. 

Economic prospects deteriorated further, and the general government deficit reached 6.4% of GDP in 2012. In June 2013, the Council extended the deadline for correcting the deficit by another year, to 2015. It set headline deficit targets of 5.5% of GDP for 2013, 4.0% of GDP for 2014 and 2.5% of GDP for 2015. 

Portugal exited its economic adjustment programme in June 2014. 

However, it missed the deadline set by the Council as its general government deficit came out at 4.4% of GDP in 2015. Portugal didn't correct its deficit by 2015 as required, and its fiscal effort fell significantly short of what the Council recommended. 

Thanks to policy measures taken in its 2016 budget, Portugal's general government deficit is expected to fall below the 3% of GDP reference value this year. In the light of uncertainties regarding economic and budgetary developments however, the safety margin against breaching the reference value again is narrow. The Council considers therefore that a credible and sustainable adjustment path requires Portugal to attain a general government deficit of 2.5% of GDP in 2016.

Spain 

The Council calls on Spain to reduce its general government deficit to 4.6% of GDP in 2016, 3.1% of GDP in 2017 and 2.2% of GDP in 2018. In addition to savings already foreseen, Spain must implement consolidation measures amounting to 0.5% of GDP in both 2017 and 2018. All windfall gains must be used to accelerate deficit and debt reduction, and Spain must be ready to adopt further measures should budgetary risks materialise. 

Fiscal consolidation measures must secure a lasting improvement to the government's budgetary balance in a manner conducive to economic growth. 

Spain has been subject to an excessive deficit procedure since April 2009, when the Council issued a recommendation calling for its deficit to be corrected by 2012. 

In December 2009 however, the Council extended the deadline to 2013. The Commission forecast that Spain's 2009 deficit would reach 11,2 % of GDP, five percentage points more than its previous estimate. In July 2012, the Council extended the deadline for a further year to 2014 on account of renewed adverse economic circumstances. 

Also in July 2012, the euro area member states agreed to provide up to €100 billion of loans to Spain for the recapitalisation of its financial services industry. 

In June 2013, the Council found that Spain fulfilled the conditions for extending the deadline for correcting its deficit by a further two years, setting a new deadline of 2016. It set headline deficit targets of 6.5% of GDP for 2013, 5.8% of GDP for 2014, 4.2% of GDP for 2015 and 2.8% of GDP for 2016. 

Spain exited the financial sector financial assistance programme in January 2014. It had used close to €38.9 billion of loans for bank recapitalisation, plus around €2.5 billion for capitalising the country's asset management company. 

However, general government deficits of 5.9% of GDP in 2014 and 5.1% of GDP in 2015 were above the intermediate targets set by the Council. Moreover, a relaxation of fiscal policy in 2015 had a large impact on the country's fiscal outcome that year. 

As a consequence, Spain is not set to correct its deficit in 2016 as required by the Council in its June 2013 recommendation. Its general government deficit is currently set to amount to 4.6% of GDP in 2016, 3.3% of GDP in 2017 and 2.7% of GDP in 2018, according to the Commission's updated 2016 spring economic forecast. And the country's fiscal effort has fallen significantly short of what the Council recommended. 

Granting Spain one additional year to correct its deficit would require a structural balance adjustment that would have too negative an impact on growth. The Council therefore considers it adequate to extend the deadline by two years. 

The Council considers that a credible and sustainable adjustment path requires Spain to achieve general government deficits of 4.6%, 3.1% and 2.2% of GDP in 2016, 2017 and 2018 respectively. 

On 4 August 2016, the Council appointed Natalya Apostolova from Bulgaria, as EU special representative (EUSR) for Kosovo. Natalya Apostolova will replace Samuel Zbogar as of 1 September.

Natalya Apostolova was appointed as Head of the EU Office in Kosovo on 20 July 2016.

The EUSR plays a leading role in promoting a stable, viable, peaceful, democratic and multi-ethnic Kosovo, also through strengthening stability in the region and contributing to regional cooperation and good neighbourly relations in the Western Balkans. The EUSR promotes a Kosovo that is committed to the rule of law and to the protection of minorities and of cultural and religious heritage.

The EUSR supports Kosovo's European perspective and rapprochement with the EU in line with the perspective of the region and in accordance with the Stabilisation and Association Agreement.

On 4 August 2016, the Council extended the mandate of the planning mission EUBAM Libya until 21 August 2017. It also approved a budget of €17 million for the period from 22 August 2016 to 21 August 2017.

As part of the EU's comprehensive approach to support the transition to a democratic, stable and prosperous Libya, EUBAM Libya is mandated to plan for a possible future EU mission providing advice and capacity-building in the area of criminal justice, migration, border security and counter-terrorism. 

Any future civilian mission in Libya would seek in particular to address law enforcement aspects of irregular migration, smuggling of migrants and trafficking of human beings while promoting longer term efforts on security sector reform, including governance. It would be conducted at the request of the legitimate Libyan authorities, with their full ownership.

The civilian planning capacity co-operates closely with, and contributes to, the efforts of the United Nations Support Mission in Libya.

In February 2016 the EU amended the mandate of its integrated border management assistance mission in Libya (EUBAM Libya) to focus on civilian planning activities.

The mission is currently located in Tunis and has established contact with the relevant Libyan authorities. The mission's budget approved by the decision provides for the activities and staff in Tunis as well as for the possibility to deploy to Libya as soon as the security situation allows.

The decision was adopted by written procedure.

On the occasion of the International Day of the World's Indigenous Peoples, we join indigenous peoples around the world in celebrating the richness of their cultures and their unique contributions to the world's cultural diversity. The European Union reaffirms its commitments to promote and protect the rights of indigenous peoples. 

Despite the many positive developments in recognising the rights of indigenous peoples, there are persistent human rights violations, including killings and abuses against indigenous Human Rights Defenders in a range of countries. The EU is therefore stepping up its efforts to protect Human Rights Defenders working on behalf of the most vulnerable and marginalized, including indigenous peoples, and those campaigning on land rights issues. 

The EU is also stepping up its engagement with indigenous peoples, in line with the EU Action Plan on Human Rights and Democracy. Before the end of the year the EU intends to prepare an overview of its policies and actions supporting indigenous peoples as well as a list of best practices. The promotion of cultural rights in accordance with the UN Declaration on the Rights of Indigenous Peoples is also at the heart of peace-building through inter-cultural dialogue, as set out in the new European Union Strategy on international cultural relations. At multilateral level, the EU engages in a consensual manner in the ongoing debates at the United Nations concerning the Rights of Indigenous Peoples.

In June of this year, the Organisation of the American States adopted the American Declaration on the Rights of Indigenous Peoples. The declaration is the first instrument in the history of the Organisation of the American States which specifically addresses the rights of the indigenous peoples of the Americas. The EU congratulates the OAS and its Member states, as well as the indigenous peoples of the Americas, on this achievement. The Declaration will add a new dimension to the EU's relations with its partner countries in the Americas.

The Candidate Countries Turkey, Montenegro*, Serbia* and Albania*, the country of the Stabilisation and Association Process and potential candidate Bosnia and Herzegovina, and the EFTA countries Iceland and Norway, members of the European Economic Area, as well as Ukraine, the Republic of Moldova, Armenia and Georgia align themselves with this Declaration. 

* Montenegro, Serbia and Albania continue to be part of the Stabilisation and Association Process.

On behalf of the Slovak presidency of the Council

In order to cover meetings organised in Bratislava during the Slovak presidency (informal Council meetings, the Bratislava summit, etc.) media must follow a two-step procedure.

Step 1: general accreditation valid for all events

This one-off step consists of a security check of your application. You must submit your application no later than 21 days prior to the first event you wish to attend. No late application is available.

This request can be introduced at any time, even if the event you wish to register for is not yet open (e.g. Bratislava summit). It is a one-off requirement, which entitles media representatives to a 6-month pass for all presidency events.

During the process you will be asked to provide your personal details and upload an ID type photo and a scan of your press card or commissioning letter from your editor-in-chief. Make sure that all data you provide are accurate.

Once your details have been verified, you will receive an email informing you of the outcome of your request. In case you do not receive this electronic confirmation, please, do not hesitate to contact media.skpres@mzv.sk,  tereza.fitzekova@mzv.sk or +421 908 674 501.

Step 2: registration for individual events

You can ask for registration in an event at the same time as your accreditation request or once it has been accepted. Registration for events closes 5 days prior to the beginning of the event concerned. The status of your registration request is available to you on your account that you have created. However, the presidency will be responsive to late or last-minute registrations for specific events, given that a reporter has done its accreditation on time.

 At this stage, registration is already open for the following upcoming events:

• Ministerial conference on the occasion of the European Day of Remembrance for the victims of totalitarian regimes (22 - 23 August)
• Gymnich (2 - 3 September)
• ECOFIN ( 9 - 10 September)
• AGRIFISH (11 - 13 September)
• "Bratislava summit" - Informal Meeting of Heads of State and Government (16 September)
• Speakers of Parliament (6 October).

Important: Separate registration is required for each event. Media representatives will not be granted access to the event venue unless they have obtained accreditation and their registration has been duly approved. Neither accreditation nor registration is possible at the event venue.

For more information and to start the process: http://www.eu2016.sk/en/media-en/accreditation

For any queries regarding accreditation please contact the Slovak presidency at media.skpres@mzv.sk or +421 908 674 501

On 26 July 2016, the Council adopted a decision establishing a revised order in which the member states will hold the presidency of the Council of the EU until 2030.

Following the UK decision to relinquish the Council presidency in the second half of 2017, the Council decided to bring forward by six months the order of presidencies, starting from 1 July 2017.

It also decided to add Croatia, which was not yet a member state at the time of the original decision, for the period January-June 2020.

The revised order of the presidencies of the Council runs until 2030 (the previous decision covered only until June 2020) and is set out below:

MaltaJanuary-June2017EstoniaJuly-December2017BulgariaJanuary-June2018AustriaJuly-December2018RomaniaJanuary-June2019FinlandJuly-December2019CroatiaJanuary-June2020GermanyJuly-December2020PortugalJanuary-June2021SloveniaJuly-December2021FranceJanuary-June2022Czech RepublicJuly-December2022SwedenJanuary-June2023SpainJuly-December2023BelgiumJanuary-June2024HungaryJuly-December2024PolandJanuary-June2025DenmarkJuly-December2025CyprusJanuary-June2026IrelandJuly-December2026LithuaniaJanuary-June2027GreeceJuly-December2027ItalyJanuary-June2028LatviaJuly-December2028LuxembourgJanuary-June2029NetherlandsJuly-December2029SlovakiaJanuary-June2030MaltaJuly-December2030

Regarding the order of presidencies as from 1 January 2031, the Council is required to take a decision before 31 December 2029.

On 26 July 2016, Ms Kirsi Henriksson, a senior diplomat from Finland, was appointed Head of the European Union mission in Niger, EUCAP Sahel Niger. She will take up her duties on 1 September 2016. She will replace Mr Filip de Ceuninck who had been in the position since 2013.

EUCAP Sahel Niger was launched in 2012 to support capacity building of the Nigerien security actors. The mission provides advice and training to support the Nigerien authorities in strengthening their security capabilities.  It contributes to the development of an integrated, coherent, sustainable, and human rights-based approach among the various Nigerien security agencies in the fight against terrorism and organised crime. On 18 July 2016 its mandate was amended to also assist the Nigerien central and local authorities as well as the security forces in developing policies, techniques and procedures to better control and combat irregular migration. 

Since 2014, Ms Henriksson has been the Deputy Head of Mission for EUCAP Sahel Mali. She has a background both from civilian CSDP, Crisis Management Centre Finland, Ministry of Interior and from academia. She has previously held positions such as: Acting Chief of Staff EUBAM Libya (May-Aug 2014); Head of Planning and Evaluation, EUBAM Libya (2014); Planning and Evaluation Officer, EUBAM Libya (2013-2014); Rule of Law expert, Evaluation and Best Practice Officer, EUJUST LEX Iraq (2010-2011); Head of Development, Crisis Management Center Finland (CMC Finland), Ministry of the Interior (MoI); Researcher, CMC Finland, MoI (2007); Researcher and lecturer at the Department of History and Jean Monnet Centre of Excellence, University of Tampere, Finland (1996-2006). She speaks Finnish, English, French, Swedish, German, and has a basic knowledge of Arabic.

The decision was taken by the Political and Security Committee.

Friday 15 July 2016
Ulaanbaatar, Mongolia (local time)
11th ASEM SUMMIT
ttbc Official welcome by Mongolia President Tsakhiagiin Elbegdorj
09.00 Opening ceremony of the summit
09.15 Session with Stakeholders (ASEP, AEPF, AEBF, model ASEM)
09.30 First plenary session "Two decades of partnership: taking stock and looking ahead"
11.30 Second plenary session "promoting ASEM partnership for Greater Connectivity"
13.40 Family photo
14.00 Social lunch
16.00 Celebration of the 20th anniversary of ASEM
18.30 Dinner hosted by President Tsakhiagiin Elbegdorj  

Saturday 16 July 2016
Ulaanbaatar, Mongolia (local time)
11th ASEM SUMMIT
08.30 Family photo
08.40 Retreat session
11.50 Closing ceremony
12.40 Press conference  

Tuesday 19 July 2016
15.45 Meeting with Prime Minister of Ukraine Volodymyr Groysman (photo opportunity)

Place:        Justus Lipsius building, Brussels
Chair(s):    Gabriela Matečná, Minister for Agriculture and Rural Development of Slovakia

All times are approximate and subject to change

+/- 10.00
Doorstep by Minister Gabriela Matečná

+/- 11.00
Beginning of the meeting (Roundtable)
Adoption of the agenda
Adoption of non-legislative A items
Adoption of legislative A items (public session)

AGRICULTURE

+/- 11.15
Presidency Work Programme (public session)

+/- 11.30
Any other business:
Outcome of the conference 'Strengthening the farmers' position in the food suppy chain'

+/- 11.45
Market situation

Any other business:
Drought and its impact on arable crops in Poland

Lunch (break)

+/- 15.15
Any other business:
Fires in Cyprus

+/- 15.25
Any other business:
Phosphonates in organic

+/- 15.45
International trade

Any other businesses:
Rice imports from EBA countries

+/- 17.15
CAP Simplification: review of greening

+/- 18.50
Any other business:
Lumpy skin disease

+/- 19.25     Press conference (live streaming)

The European Union and its Member States, as contracting parties to the United Nations Convention on the Law of the Sea (UNCLOS), acknowledge the Award rendered by the Arbitral Tribunal, being committed to maintaining a legal order of the seas and oceans based upon the principles of international law, UNCLOS, and to the peaceful settlement of disputes. 

The EU does not take a position on sovereignty aspects relating to claims. It expresses the need for the parties to the dispute to resolve it through peaceful means, to clarify their claims and pursue them in respect and in accordance with international law, including the work in the framework of UNCLOS. 

The EU recalls that the dispute settlement mechanisms as provided under UNCLOS contribute to the maintenance and furthering of the international order based upon the Rule of Law and are essential to settle disputes. 

The EU also underlines the fundamental importance of upholding the freedoms, rights and duties established in UNCLOS, in particular the freedoms of navigation and overflight. 

The EU supports the swift conclusion of talks aiming at an effective Code of Conduct between ASEAN and China implementing the 2002 Declaration on the Conduct of Parties in the South China Sea. 

Recalling its Statement of 11 March 2016, the EU calls upon the parties concerned to address remaining and further related issues through negotiations and other peaceful means and refrain from activities likely to raise tensions. As a member of the ASEAN Regional Forum (ARF) and as a High Contracting Party to the 1976 Treaty of Amity and Cooperation in South East Asia, the EU also wishes to "foster cooperation in the furtherance of the cause of peace, harmony, and stability in the region". The EU therefore stands ready to facilitate activities which help to build confidence between the parties concerned.

While underlining the importance of all States working together to protect the marine ecosystem already endangered by the intensification of maritime traffic and dredging, the EU and its Member States will continue to organise High Level Dialogues on Maritime Security Cooperation and the exchange of best practices on joint management and development of shared resources, such as fisheries, as well as on capacity-building measures.

Leaders reiterated their strong unequivocal condemnation of terrorism in all its forms and manifestations committed by whomever, wherever and for whatever purposes.

The European Union and Japan are united in our resolve to fight terrorism, extreme violence and hatred. Today we mourn all the victims of the tragic attacks in Nice and Dhaka. We are committed to work hand in hand to counter the plague of terrorism.

Let me congratulate Prime Minister Abe on his coalition's victory in the elections last Sunday. Shinzo, this gives you a strong mandate to accelerate your ambitious reform agenda and to continue your excellent leadership in the G7. You have our full support.

During the G7 Ise-Shima summit we agreed on the goal to conclude our free trade and strategic partnership agreement by the end of this year. Let me assure you that the European Union is fully committed and with the renewed leadership of Prime Minister Abe we will do our utmost to make it happen. The result of the UK referendum does not affect this process. The arguments, and they are many, for an active and open trade policy have not changed.

The European Union remains an engaged and active global player. We will continue doing so also as an EU of 27 Member States once the UK leaves. Before this day happens let me recall that the UK is a full member of the EU, with all its rights and all its obligations. This situation will also apply during the whole - so-called - divorce process, which the UK government still needs to trigger. Later today, I will have the opportunity to discuss it with some of my colleagues and maybe also Prime Minister Theresa May. 

Finally, let me conclude by saying that the European Union continues to cooperate with all our partners, not only here in Asia but also around the world. There is no shift in our foreign policy. This was the message I passed today as we intend to continue our fruitful cooperation with Japan and friendly relations with Prime Minister Abe.

First of all thank you President Elbegdorj for expressing solidarity at the attack in Nice on the French national day. It's a tragic paradox that the subject of this attack were people celebrating liberty, equality and fraternity. Today we all, Europe and Asia, stand united with the French people and their government. We condemn this tragedy and keep up our fight against extreme violence and hatred.

Mr. President, thank you for welcoming us in Ulaanbaatar on this important occasion, as we celebrate the twentieth anniversary of ASEM. I had the pleasure yesterday to learn more from you about the proud and rich heritage of the Mongolian people. Your horse relay postal system from the 13th and 14th centuries, for instance, was the original connectivity project. I am happy that we meet here in Mongolia to advance on further connecting Asia and Europe.

Europe attaches great importance to our partnership with Asia. And ASEM is a unique forum to bring Europe and Asia closer,  in all spheres: economic, political, and people-to-people.

We have a lot to gain from working closely together - and much to lose if we do not. Together we account for about 60% of the world population, and of the world's trade and GDP.

As leaders, we have a duty to maintain peace, security and stability, and work for prosperous, cohesive and sustainable societies. Of course, we have our differences. But there is much more uniting us than dividing us. We have an obligation not only to keep it that way but also to improve our relations and cooperation.

We have the chance to make the most of our cooperation by strengthening our trade and investment links, by bringing our citizens closer to each other. We should use this chance to increase our mutual understanding in practice by promoting enhanced links between our regions - from transport to digital highways.

Our cooperation is not without challenges. That is why dialogue and a strong commitment to the rules-based international order are necessary. Common and predictable rules make states more secure, people more free and encourage companies to invest with more confidence.Europe and Asia also share responsibilities for turning our climate change commitments and sustainable development goals into reality, promoting reformed global governance, addressing terrorism and the migration and refugee crisis.

All of these topics will be on the menu of our meeting. I hope that the Ulaanbaatar Summit will be remembered for our determination to find common solutions.

ASEM has come a long way in the last 20 years. We have achieved a lot together, but we have more work to do. I look forward to our discussions. Thank you.

One year after the conclusion of the landmark deal on Iran's nuclear programme agreed in Vienna, the European Union is pleased to note that the Joint Comprehensive Plan of Action (JCPOA) is being implemented. This demonstrates that with political will, perseverance and multilateral diplomacy, workable solutions can be found to the most difficult problems.

The European Union will continue to actively support the full and effective implementation of the JCPOA throughout the lifetime of the agreement, as well as the UNSC Resolution 2231. The EU and its Member States underline the need for Iran to strictly adhere to all its commitments under the JCPOA and to continue to cooperate fully and in a timely manner with the International Atomic Energy Agency (IAEA). They also call upon Iran to refrain from activities that are inconsistent with UNSC Resolution 2231. The European Union confirms the support to the High Representative's coordinating role of the Joint Commission foreseen under the agreement and calls for assistance to the IAEA in its responsibility to monitor and verify Iran's nuclear-related commitments. The upholding of commitments by all sides is a necessary condition to rebuild trust and allow for steady and gradual improvement in relations between the European Union, its Member States and Iran as stated by the July 2015 Foreign Affairs Council.

The European Union notes that its sanctions-related commitments under the JCPOA have been fulfilled in accordance with the agreed implementation plan. On Implementation Day (16 January 2016), when the International Atomic Energy Agency verified that Iran had implemented its nuclear-related commitments, economic and financial nuclear-related sanctions were lifted. On the same day, a comprehensive Information Note on the lifting of sanctions was issued in order to provide clarity to EU business operators on the new regulatory environment.[1] It is in the interest of the European Union that the lifting of economic and financial nuclear-related sanctions delivers benefits to the Iranian people.

The European Union acknowledges that clarity regarding the lifting of sanctions is key to allow a full reengagement of European banks and businesses in Iran. In this context it notes the extensive guidance that was provided on the scope of sanctions lifted and those that remain in place.  The EU is committed to continue actively engaging with the private sector and encourages all parties to the JCPOA to continue their outreach efforts in this regard. For Iran to fully benefit from the lifting of sanctions, it is also important that it overcomes obstacles related to economic and fiscal policy, business environment and rule of law. The European Union and its Member States stand ready to cooperate with Iran in these areas and to provide technical assistance, including on compliance with FATF requirements, and to consider the use of export credits to facilitate trade, project financing, and investment.

The European Union reaffirms its commitment to further developing relations with Iran, in particular in areas such as trade, energy, human rights, civil nuclear cooperation, migration, environment, fight against transnational threats such as drugs, humanitarian cooperation, transport, research, education, culture and regional issues.  In this regard it takes note of the final joint statement from the visit to Tehran of the High Representative with a group of Commissioners. The European Union supports a strategy of gradual engagement that is comprehensive in scope, cooperative where there is mutual interest, critical when there are differences and constructive in practice. As part of that, the European Union intends to open an EU Delegation in Iran.

The JCPOA is for the benefit of the entire region and creates the opportunity for improved regional cooperation that should be seized by all parties. The European Union calls on all parties to work towards a cooperative regional environment and to help reduce tensions. The EU reaffirms its commitment to help make an improved regional situation a reality.

[1] Information note on EU sanctions to be lifted under the Joint Comprehensive Plan of Action (JCPOA)

Joint Comprehensive Plan of Action and restrictive measures

Good afternoon. We have just concluded the 18th summit between the European Union and China. We had rich and sometimes very candid discussions on all dimensions of our relations. But most importantly our talks with President Xi and Premier Li were fruitful and conclusive. As a result I can say that we moved the strategic partnership between the European Union and China forward.

You had a chance to listen to our opening remarks yesterday, so you should know where we stand on some of the key issues. Therefore allow me to highlight just a few elements.

First of all we discussed the importance of international cooperation based on rules. A global order based on common rules is in our mutual interest but clearly we have our differences in what it means in practise.

Secondly, ahead of the September G20 summit in China. I am happy that we agreed to tackle the migration crisis at the global level. Over 60 million displaced people around the world seek protection; so the international community needs to step up its efforts.

Thirdly we agreed to have another round of dialogue between the EU and China about human rights still this year in Brussels. There is no doubt that there are disagreements on this issue. But I welcome that China stands ready to engage.

On a different note let me just mention that this morning I had the opportunity to visit the National Museum in Beijing. It gave me a chance to appreciate Chinese history and its impressive culture.

Finally let me say this. We came here to discuss common challenges in an open and friendly manner. It is not always easy to have such talks because the stakes are high and real differences persist. But after these two days I can say that we made progress and we did it also thanks to the openness and frank approach by both President Xi and Premier Li. We had a good summit here in Beijing and I look forward to hosting the next bilateral EU-China summit in Brussels next year. Thank you.

Dear Prime Minister,

On behalf of the European Council, I would like to congratulate you on your appointment as Prime Minister of the United Kingdom of Great Britain and Northern Ireland.

I look forward to a fruitful working relationship and to welcoming you to the European Council.

The Council adopted conclusions on the completion of work on post-crisis banking reform. 

The reform has been undertaken by the Basel committee, a forum of supervisory authorities aimed at enhancing cooperation and improving bank supervision worldwide. 

"THE COUNCIL OF THE EUROPEAN UNION: 

REITERATES its support for the work by the Basel Committee to refine elements of the Basel III framework by the end of 2016 to ensure regulatory certainty, its coherence and effectiveness, while preserving the risk sensitivity of banking regulation. 

STRESSES the importance that the Basel Committee carefully assesses the design and calibration of this reform package, on the basis of a comprehensive and transparent quantitative impact analysis, taking into account in its global calibration also the distribution of its impact on the different banking models and across jurisdictions. 

NOTES that the reform package would not be expected to result in a significant increase in the overall capital requirements for the banking sector, therefore, not resulting in significant differences for specific regions of the world."

Justus Lipsius building - Brussels

• 08.00 - 10.00  Informal breakfast
• 10.15  Press conference by Federica Mogherini, High Representative of the Union, and John Kerry, U.S. Secretary of State (press room, level 00)

Access to the press room (level 00) will be subject to the following conditions:

• 6-month badge (2nd semester 2016). Badges can be collected from 11 July at the JL accreditation desk.
• Journalists without the above must send a written request by mail - deadline 14 July 17.00 - to press.centre@consilium.europa.eu, with a copy of their ID, a valid press card (if available) or a signed letter from their media confirming their professional status and that they are assigned to cover this event.
  No late request will be accepted.

Original documents need to be produced when collecting the badge.

Photos and video coverage of the event will be available for preview and download on http://tvnewsroom.consilium.europa.eu

Livestream on http://video.consilium.europa.eu

Thank you very much, especially for your hospitality. Premier Li, I am very pleased to meet with you again for the 18th EU-China Summit! It is not the first time we meet but it is our first meeting here in Beijing.

Today's meeting gives us the opportunity to demonstrate the strength of our Strategic Partnership. Especially in these testing times, as EU and China have both a stake in each other's success.

The European Union welcomes China's Presidency of the G20 this year. You can count on the EU to play a constructive role towards achieving a successful summit in Hangzhou. As two of the largest economies in the world, the EU and China have an important stake, as well as responsibility, in ensuring the growth and stability of the global economy.

The European Union looks forward to closely work with China to resolve international conflicts and address foreign policy priorities. We have to employ all existing channels in both the bilateral and in multilateral contexts, such as the United Nations and the G20. Building on the positive experience of the Iran nuclear talks, we are confident there is much we can contribute to peace and prosperity around the world, especially in Syria, Iraq, Afghanistan or Africa.

The same goes for global issues, like migration, international development assistance, the environment and fighting climate change. These are challenges that can only be resolved through a global response. For this reason, a collaborative EU-China relationship is crucial.

We came here to discuss common challenges, and to do so in a friendly manner. One of those is the protection of the rule-based international order. This may be the biggest challenge ahead of us. It is both in the Chinese and European interest to protect international cooperation based on common rules.

Let me just name one example: Globalisation. It brings so many benefits to our nations. Unfortunately, more and more people feel that it is happening without rules. And if we let these feelings grow, if many start believing that globalisation and international trade are happening without or against common rules, then the first victims will be the Chinese and European economies, not to mention people. That is why we are so openly raising these issues, because we believe a frank discussion is in our mutual interest.

As in every mature partnership we may sometimes have differences of opinion. And being able to discuss these differences openly is part of the strength of our relationship. This is the case, for example, with our discussion on human rights and the rule of law. I stress the importance for the European Union of the freedom of the press, the freedom of expression, association and assembly, including for minorities. I hope that the next session of the human rights dialogue will take place in November in Brussels.

Finally, on the South China Sea we will see an important ruling today. Therefore let me repeat this: The rule-based international order is in our common interest and both China and the EU have to protect it, as this is in our people's best interest.

I am pleased, Mr Premier, that we have this timely opportunity to address our substantial common agenda. Today's summit should send a message to our people and to the rest of the world of our joint commitment to our Strategic Partnership. Thank you.

Good evening everyone, thank you for joining us.

This was our first meeting since the UK referendum so when discussing the economic situation in the euro area we of course also focused on the effects of the outcome of the UK referendum, talked about market reaction, the impact in Europe and in the Eurozone in particular. Of course, there is a high degree of uncertainty at this point on what the economic impact will be, as well as what the political impact will be throughout the Eurozone area. But it doesn't change our commitment to continue to work on sound growth-friendly fiscal policy, structural reforms, and sorting out the banking sector. Basically our agenda and our commitment to that agenda is unchanged.

On fiscal policies in specific we of course discussed Spain and Portugal following the recent Commission recommendations, or more specifically the recommended decisions by the Commission. I will not go into detail now given that we will discuss it at the Ecofin; it is an Ecofin decision. Let me just stress that the discussion is at this stage only about the question whether there is effective or ineffective action in Spain and Portugal. It was not on the follow-up decisions regarding sanctions, possible sanctions or the effect of actions this and in the coming years. So it was just about looking back. There was strong support for the two Commission recommendations today. We agreed that we should continue swiftly with the next steps in the procedures so that we give clarity and certainty to all involved as soon as possible.

We also briefly took stock of the latest post-programme surveillance (PPS). This was for Ireland and Portugal.

In Ireland, the good progress continues and there is no reason for great concern.

For Portugal, there are a few more concerns, risks in the economy and in the banking sector, which are acknowledged also of course by the Portuguese authorities. They are committed to work on that as well as to work on budgetary issues.

Both of these programmes will have another post-programme surveillance later on.

Finally we had a broad discussion on reducing barriers to investment, both on the public and private side. On the public side the discussion focused on the criteria for the investment clause, some statistical issues on how to deal with investments from public budgets. And on the private side we focused, on the basis of the paper the Commission prepared, on a couple of areas where work should be done to improve the efficiency of public administration, the business environment in our countries, and sector-specific burdens that hinder further private investments. More work will be done on that and we will continue on that topic later this year.