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European Union leaders meet in Brussels to wrestle with the balance between budget austerity and reviving lost growth. It's the first summit in two years in which the euro zone debt crisis hasn't eclipsed everything else on the agenda.

European Union leaders emphasized growth over austerity on Thursday at the start of their first summit for two years at which the euro zone debt crisis is not expect to overshadow everything else.

With a second bailout for Greece almost in place, and a flood of cheap European Central Bank funds calming bond markets, the 27 leaders plan to use the 2-day meeting to focus on structural economic reforms and other ways to combat record unemployment.

Other topics on the agenda include the re-election of Hermann Van Rompuy as EU Council president for a second 30-month term and also as President of the Eurozone.

On Friday there will also be a signing ceremony for the "fiscal compact" treaty designed to shield the eurozone from new financial shocks.

However, Czech Republic Prime Minister Petr Necas explained that his country will not sign because the treaty is still problematic in its present form.

Heads of State will also take a decision on Schengen (the EU's border free area) enlargement and Serbia's EU candidate status.

These discussions are expected to be lengthy as Romania surprised colleagues earlier this week by threatening to veto the Balkan country's upgrade over minority rights issues.

The country's foreign minister later retreated but the move has been interpreted as an attempt to pressure the Netherlands.

Last year the Netherlands vetoed Romania and Bulgaria's accession to the border-free Schengen area .