Preparation for the European Council meeting (24-25 March 2011)

The Council examined draft conclusions for the European Council meeting to be held on 24 and 25 March 2011. The European Council is due to focus on the following:

Economic policy: adoption of a comprehensive package of measures to strengthen EU economic governance and ensure the stability of the euro area.

Developments in Libya and elsewhere in the EU's southern neighbourhood: follow-up to UN Security Council resolution 1973 and latest developments as regards Libya; implementation of measures agreed by the European Council on 11 March.

Crisis in Japan: assessment of the humanitarian aid effort, the situation in the energy sector and the broader economic implications.

As regards economic policy, the European Council will deal with:

• conclusion of the first phase of the European Semester (annual monitoring of budgetary policies and structural reforms);
• the strengthening of economic governance provisions;
• measures to restore the health of the banking sector;
• endorsement of the pact for the euro (economic policy coordination.