 In its informal capacity, the "de facto" summit President has been the European Council President, meaning that Herman Van Rompuy chaired all meetings since March 2010 to December 2014.The proposals for formalisation of the summit include electing a President along the same lines (and term) as the European Council President, and until then Van Rompuy continues to chair the summit.On 1 March 2012, according to the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union (TSCG), he was formally elected as President of the Euro Summit for the term 1 June 2012 to 30 November 2014.