Est. 1min 24-03-2006 (updated: 07-11-2012 ) petrol_picMegan_Stevens.jpg Euractiv is part of the Trust Project >>> Languages: Français | DeutschPrint Email Facebook X LinkedIn WhatsApp Telegram The EU summit backs more cooperation on energy policy, but shies away from hot issues of energy market de-regulation and goals for renewable energy. Read more with Euractiv EU research: business investment and creation of demand are key The European business summit had clear ideas on how to turn knowledge into growth: more private sector investment in R&D is a must, together with the creation of lead markets for technology-intensive goods and services. Subscribe now to our newsletter EU Elections Decoded Email Address * Politics Newsletters BackgroundThe focus of the annual Spring Summit of EU leaders is on energy this year. In the face of the issue of growing energy dependency and rising oil-prices, energy has now been added to the Lisbon agenda, traditionally discussed at the Spring summit. EU leaders meeting in Brussels on 23-24 March are set to back a new Energy Policy for Europe (EPE), but leaders like Germany's Angela Merkel are not ready to hand over any competences to the EU, and the summit will thus limit itself to more general principles and already agreed goals of securing energy supply and competitiveness. Ideas on the creation of a European energy regulator will not get backing from all member states. France's President Chirac, whose country is in a row with Italy over the blocking of Enel's takeover bid of the French energy utility Suez, said: "The construction of a Europe of energy (sic) cannot be confined to the liberalisation of markets. We must do everything to encourage the development of 'European champions', based on solid industrial ambition and not on a purely financial approach." The President also managed to steal the show when he walked out during the speech of fellow country-man, Ernest-Antoine Seillière, head of the UNICE employers organisation, who chose to make his plea for economic reform in English. Further ReadingPress articles Financial Times:Tensions rise as Chirac walks out on EU forum Guardian:Chirac leaves EU summit as Frenchman speaks English Reuters:Economic nationalism row ignites before EU summit Reuters:Seillière en anglais dans le texte fait bondir Chirac Nouvel Obs:Jacques Chirac quitte la salle du conseil européen pendant un discours en anglais de Seillière Figaro:A Bruxelles, Chirac défend les «champions européens» Nordkurier:Zäher Streit überschattet den Gipfel Tagesspiegel:Ihnen geht kein Licht auf