• EU economic growth in 2010 will be higher than first forecast
• Next 12 months must be used to accelerate EU structural and other reforms
• We need to tackle severe macroeconomic imbalances, especially in euro area
• Sees willingness among EU govts to accept stronger financial, fiscal monitoring
• We plan to tackle credit default swaps as well as ban abusive naked short selling
• EU initiatives on derivatives, further measures on credit rating agencies in pipeline
• Will use G20 to push for more stable, more responsible financial markets
• G20 must also agree on reform of international financial institutions