At the Euro Summit on 14 December, EU leaders endorsed all the elements of the Eurogroup report to Leaders on EMU deepening. In particular, they agreed to create a common backstop for the Single Resolution Fund and endorsed the term sheet on the European Stability Mechanism (ESM) reform. They also called for further progress on the Banking Union and the Capital Markets Union and they gave a mandate to the Eurogroup for further work on a budgetary instrument for convergence and competitiveness for the euro area, in the context of the multiannual financial framework. Finally, they expressed support for the Commission’s recent proposal to strengthen the international role of the euro. During the regular European Council meeting, leaders underlined the importance of pressing ahead with the Single Market agenda in order to underpin a more autonomous EU in the current challenging global environment. They want to see progress in ongoing legislative work, coordination with related policy areas, implementation at the national level, global competitiveness and digital transformation. Regarding the Multiannual Financial Framework, leaders called on the incoming Presidency to continue to develop an orientation for the next stage of the negotiations, in order to achieve an agreement in the European Council in autumn 2019.