On January 30 the first for 2012 European Council will take place. The European Union member states' leaders will discuss two major issues. The first is finalising the text of the Treaty for Stability, Coordination and Governance of the Economic and Monetary Union, more popular as fiscal pact, which was agreed at the December summit. The second issue is the measures for economic growth and increasing Europe's competitiveness against the backdrop of dim forecasts for a continuous recession. The summit is again taking place under the strong pressure of the markets, after Standard & Poor's credit rating agency downgraded 9 member states, including the temporary rescue fund EFSF, which helps the financing of countries in a bailout regime. Separately, a strong influence on the summit are expected to exercise the growing more difficult negotiations with the private creditors of Greece. euinside will again follow for you the summit and will inform you in this subject about the leaders' decisions, the comments and the reactions.