European Union leaders will press for new efforts to boost economic growth and improve lending conditions when they meet later this month, according to a draft document prepared for a June 28-29 summit in Brussels.

The 27-nation bloc will pursue growth measures at a time when, in the words of European Central Bank President Mario Draghi, “there is no inflation risk in any European country” and the ECB will continue to provide liquidity to the banking system. Draghi is working with EU President Herman Van Rompuy, Luxembourg's Jean-Claude Juncker and European Commission President Jose Barroso on a blueprint for further integration of the 17-nation euro region.

This report will set out building blocks for strengthening the euro area and economic coordination in the broader EU, according to the draft summit document. “Recent developments” have shown the need to take monetary union “to a further stage,” according to the draft dated June 12, which was obtained by Bloomberg News.