Emerging from two days of intense negotiations on the EU’s new Reform Treaty, Prime Minister Lawrence Gonzi at the crack of dawn on Saturday morning hailed the two-day hard-fought deal as an “immensely important step for Malta”.

After more than 20 straight hours of intense haggling, European Union leaders emerged from Friday’s record length EU summit at sunrise to a new day and to what is hoped will be a new future for the EU.

Malta as well met its objectives and left the gathering of EU prime ministers and presidents with an agreement for a crucial sixth European Parliamentary seat before the 2009 MEP election, solid commitments on European migration solidarity and an exemption from rules prohibiting Malta from applying for special small island EU funding.

Malta’s euro adoption was also endorsed by EU leaders in their first conclusion published on the Council’s opening day.

While Malta managed to essentially secure what it was after, Poland had throughout the summit threatened to dash hopes of an overall agreement by using its veto power.

EU leaders, however, brokered a last-minute deal with Poland on a new vote-weighting system for the Council – an issue that had overshadowed most of the summit and which dragged talks on until dawn in Brussels.

“We have accepted a voting deal so as to achieve this historic moment. It was worth it and I am satisfied with what we have achieved,” an exhausted-yet-satisfied Dr Gonzi told the press at a 5am briefing organised in the wake of the marathon session.

“It was absolutely vital that the EU reached an agreement at Council level and after long hours of negotiations, we have agreed on the most important point – the future of the EU’s institutional reform.

“A clear mandate has been given to Portugal’s EU presidency (which takes over from Germany on 1 July) to hold an intergovernmental conference (IGC) under specific terms.”

The IGC, to be held quickly by the end of July, will finalise this week’s agreements and, provided EU consensus remains, it will be in a position to sign the Reform Treaty at the next EU summit in December.

“This is an immensely positive step for Malta and the whole of the EU, obstacles have been removed and the EU will be able to work as an efficient block despite its large 27-state size,” Dr Gonzi adds.

Much, however, depends on the IGC and the ratification of the treaty by all EU member states, plus a crucial referendum in Ireland.

While numerous points were debated in detail by different countries and negotiations were lengthy and taxing, Dr Gonzi cited healthy cooperation from all member states, citing a “good, positive atmosphere, the likes of which I have not seen since the (2006) European Council on financial perspectives”.

On the international stage, the Council was of major significance. It was French president Nicolas Sarkozy’s first, UK Prime Minister Tony Blair’s last while it also marked the end of the EU’s German EU presidency under Chancellor Angela Merkel.

While the Maltese parliament had already ratified the now defunct EU Constitution, the new treaty will need to be ratified by all member states.

EU countries, including Malta, will be expected to ratify the treaty over 2008, so that it could be implemented in time for the 2009 European Parliament elections, where Malta will occupy six as opposed to the current five seats.

The European Council’s final conclusions have also set the platform for solidarity with Malta on its irregular migration woes as well as an endorsement of Malta’s euro adoption by the EU’s heads of state and government.

The latter was the easiest and first conclusion published by the European Council, having been something of a foregone conclusion after similar nods of approval from the European Commission, the European Central Bank and the European Parliament. Malta’s eurozone membership will be confirmed on 10 July at the next council of economy and finance ministers, where the Maltese lira’s final irrevocable exchange rate with the euro will be established.

The Council’s conclusions will now fall before an intergovernmental conference to be convened by the end of July, where the texts could be altered and where Dr Gonzi said Malta will need to ensure what it has negotiated is reflected in the treaty’s final text.

For example, the IGC will set out a maximum and minimum number of European Parliamentary seats, the minimum being six – a figure Malta will ensure remains in the treaty.

EU leaders struck an 11th-hour deal with Poland, which was apparently not finalised until after 4am and which was seen holding up the progress of discussions over the two-day gathering with what many viewed as absurd demands for a new vote-weighting system at Council level.

Poland, which brought along a team of mathematicians as well as usual legal professionals, objected fiercely to the new “double majority” voting system, in which agreement can only be reached when 55 per cent of member states totalling 65 per cent of the EU’s population are in approval.

Poland held fast to its proposal of a square root division of national populations to determine the number of votes a country is granted.

The system, however, appeared to be detrimental to the four largest and six smallest EU states, with Poland benefiting in particular from such as system.

Poland had argued the deaths it suffered during World War II when Nazi Germany invaded meant it would be a much larger country now were it not for the war.

As such, Poland believed it deserved compensation through the voting system.

While the issue would not have affected Malta one way or another, the Maltese delegation had fought against the Polish proposal since if acceded to, it would have meant redrafting crucial parts of the text that would have affected Malta.

The Council had originally insisted on an implementation of the double majority system by 2009, while Poland had stood firm on a 2020 date.

It was eventually settled that the double majority system would be implemented come 2014, with a transitional period up to 2017.

Among other key provisions of the new deal:

• More decisions will be taken by majority rather than unanimity – limiting the threat of national vetoes holding back EU policy;

• The European Parliament and national assemblies get more say over decision-making, strengthening the EU’s democratic credentials;

• Membership of the EU’s executive arm – the European Commission will be trimmed from an unwieldy 27 to 17.

• A new post of EU president will be created to replace the system of rotating national leaders into the job;

• The role of EU foreign policy chief will be strengthened, to give Europe a bigger voice in the world.