EU summit concludes after discussing institutional, climate issues

BRUSSELS, Oct. 30 (Xinhua) -- European Union leaders concluded their two-day summit after discussions on the Lisbon Treaty, climate change financing and economic issues.

European Commission (EC) President Jose Manuel Barroso, Swedish Prime Minister Fredrik Reinfeldt, whose country is holding the EU Presidency, and French  President Nicolas Sarkozy (L to R) talk at the European Union (EU) summit in Brussels, capital of Belgium, Oct. 30, 2009.(Xinhua/Wu Wei)

The summit removed one of the last hurdles facing the Lisbon Treaty reform after giving the Czech Republic an opt-out in relation to the Charter of Fundamental Rights.

It agreed to grant the Czechs the exemption in a manner that was acceptable to neighboring countries, EU presidency Sweden's Prime Minsiter Fredrik Reinfeldt told reporters after the first session of the two-day summit.

The concession was demanded by Czech President Vaclav Klaus as the price for abandoning his one-man campaign to sabotage the treaty, which will create the post of permanent EU president.

"We have removed the last political hurdle," European Commission President Jose Barroso said.

The treaty, aimed at streamlining the bloc's institutions and increasing its global influence, is expected to go into force at the end of this year or the beginning of next year.

Klaus, an euro-sceptic, refused to sign the ratification documents of the treaty until winning assurances that the new rulebook wouldn't open the possibility of property claims by ethnic Germans -- or their descendants -- who were expelled after World War II.

The summit also reached an agreement on climate financing, vowing to contribute to 50 billion euros (74 billion U.S. dollars) in annual aid to help developing countries adapt to climate change.