CARDIFF EUROPEAN COUNCIL

15 AND 16 JUNE 1998

PRESIDENCY CONCLUSIONS

I.INTRODUCTION

1. In the last six months historic decisions have been taken on Economic and Monetary Union.The process of further enlargement has begun.So have negotiations on the Agenda 2000 proposals on policy reform and the future financing of the Union.The economic outlook has improved.A new process of economic reform and the promotion of employment is under way so that all Europe's citizens can enjoy the full benefits of EMU and the single market.

2.The Cardiff European Council has taken further steps in this process by:

Setting out essential elements of the European Union's strategy for further economic reform to promote growth, prosperity, jobs and social inclusion; identifying practical ways of bringing the Union closer to people through greater transparency,

environmental integration and stepping up the fight against drugs and organised crime ; establishing guidelines and a timeframe for further negotiations on Agenda 2000 ; reviewing other progress in developing the Union and its external relations; launching a longer-term debate on the Union's future development.

3.The European Council began with an exchange of views with the President of the European Parliament on the main topics to be discussed at its meeting.

4.The European Council warmly welcomes the presence in Cardiff of the President of the Republic of South Africa, Mr.Nelson Mandela, whose personal courage and statesmanship has profoundly marked the history of his country, and has served as an example to champions of civil rights and democracy throughout the world.

II.ECONOMIC AND MONETARY UNION

5. The European Council welcomes the historic decision taken on 3 May 1998 confirming that eleven Member States met the conditions for joining the single currency, as well as the establishment of the European Central Bank on 1 June 1998.

It urges the Council, the Member States and the private sector to complete rapidly the remaining legislative and practical steps needed to ensure the successful introduction  

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