The European Council is the EU body in which the heads of state or government of the Member States meet with the Presidents of the European Council and the European Commission. It determines the Union’s overall political priorities and addresses issues that require agreement at the highest national level, including matters affecting economic and financial policy. The European Council does not enact EU laws; legislative decisions are taken through the Union’s legislative procedures. Its political conclusions establish the direction for subsequent work by the EU institutions.
Source: European Central Bank (ECB) (source). This glossary entry is an independently worded adaptation of the cited information.