On 18 October, EU leaders met together with Eurogroup President Mário Centeno and European Central Bank President Mario Draghi for the Euro Summit of 27 EU Member States. Together they assessed the state of play of negotiations on the deepening of the Economic and Monetary Union (EMU) in advance of the Euro Summit in December. At the previous Euro Summit in June, EU leaders adopted a first set of decisions on the reform of the EMU, including the role of the European Stability Mechanism (ESM) and the completion of the banking union. They asked the Eurogroup to prepare the terms of reference of the common backstop and agree on a term sheet for the further development of the ESM by December 2018. In December 2017, EU leaders had agreed that work should concentrate on areas where convergence of views is the greatest. Euro area reform is part of the Leaders' Agenda, a concrete work programme that seeks to unblock and find solutions to the main political challenges and priorities of the EU.