The European Council met on 15 and 16 October 2008, against a backdrop of international economic and financial crisis. The European Council expressed its resolve to act in a concerted and comprehensive manner to protect the European financial system and depositors.
The European Council reaffirmed the objective of an overall agreement on the "energy/climate change" issue before the end of the year. It agreed to speed up work on energy security.
It adopted the European Pact on Immigration and Asylum. In the external sphere, it took stock of Russia's implementation of the agreement of 8 September, the situation in Georgia and the EU's relations with its eastern neighbours. T
he European Council heard the Irish Prime Minister's analysis of the Irish referendum on the Lisbon Treaty; it will return to the issue in December.
The European Council endorsed the composition of the Reflection Group on the Future of the Union.