The European Council met in Brussels over the past two days and today announced that it has agreed to a €200 billion economic recovery plan. The package is worth about 1.5% of the European Union GDP. Details of the plan were not immediately available. The European Council also announced an ambitious emissions reduction program to be accomplished by 2020. Ireland also agreed to submit the Treaty of Lisbon to a new referendum before the current European Commission’s term ends in October 2009, after EU leaders agreed to certain concessions, including scrapping the proposed treaty provision that would have reduced the size of the European Commission, effectively assuring the Irish that they, and all other EU member nations, would retain a seat on the European Commission.