Three issues were discussed at Thursday evening’s summit. The first was the recovery of the economy, public finances and ‘exit strategies’, which deal with the phasing out of stimulus measures. At the press conference that followed the summit, Sweden’s Prime Minister said that the EU countries had agreed to formulate exit strategies now, but to implement them first when the economic recovery became clear.

“The origin of the financial crisis was that banks incurred debts, so governments must not incur debts in order to emerge from the crisis. We must stand equipped for the next economic decline.”

The second issue was that of the banks’ compensation system, on which Prime Minister Fredrik Reinfeldt commented by saying:
“Enough is enough. We must move away from compensation for short-term successes.”

The evening’s third issue was the climate and how developing countries’ measures to tackle climate change are to be financed. In the agreed conclusion text, the heads of state make reference to the Commission’s figures, which indicate EUR 100 billion annually in the long term and EUR 5-7 billion in the short term, between 2010 and 2012.

“Our demand to developing countries is that this money is met with reduction targets”, said Prime Minister Fredrik Reinfeldt.

At the press conference, the Prime Minister also emphasised that the leaders of the world must raise the tempo in the negotiations and increase their efforts.

The summit also resulted in a statement from the EU heads of states and government in which they welcomed the European Parliament’s vote to elect Barroso as President of the Commission

“Heads of State or Government welcomed the European Parliament's approval of Mr Barroso's nomination for a second mandate, in Strasbourg on 16 September. Now the way is open, once the legal basis for the nomination procedure has become clear, for the nomination of the other persons who will be appointed as members of the Commission.”