The crisis and how to overcome it will continue to be a hot topic at the Parliament in the second part of 2012, but it is far from the only important issue that will be tackled by MEPs. Commission president José Manuel Barroso's state of the union address in September will give MEPs the opportunity to outline their views on the EU's immediate future. Other key issues on the agenda include the EU's 2013 budget, overhauling the common agricultural policy and the EU's long-term budget.
Priorities for the immediate future
Mr Barroso will present his views on the state of affairs in the EU during his yearly state of the union address at the Parliament on 12 September. The debate afterwards will be an occasion for MEPs and the Commission president to debate what the priorities should be for the foreseeable future.
The Council and the Parliament still have to decide what the EU's budget for 2013 should be. The Council wants next year's budget to be reduced to €132.6 billion instead of the originally proposed €138 billion.
However, the Parliament is dedicated to protecting the section of the budget earmarked for growth and jobs. MEPs have also criticised suggestions to cut funding for small and medium-sized companies as well as support for poorer regions. Parliament is expected to vote on the draft budget during the October plenary.
The EU's long-term budget for 2014-2020
The EU's long-term budget for 2014-2020 - also known as the multiannual framework - will also have to be decided in the near future. It lays down the maximum annual amounts the EU is allowed to spend. This budget will have to be adopted by the Council either together with the Parliament or after having received its consent or opinion.
The Commission proposes that the EU should be able to commit €1,033 billion for specific initiatives, while the budget for payments should be €987.5 billion. This distinction between the two budgets is being made for accounting reasons as commitment is about setting aside the money and payment is about actually spending the funding that had been committed earlier.
The Parliament is keen to have a robust and flexible budget as well as a number of reforms. For example, it wants to reduce member states' contribution to the EU's budget by introducing alternative sources of income such as a financial transaction tax or other new sources of direct revenue for the EU.
Reforming the common agricultural policy
The Parliament and the Council will also have to decide on a revamp of the EU's farming policy, which should enter into force on 1 January 2014. The timing of the vote will depend on how the negotiations on the long-term budget proceed.
In the coming months the EP is expected to vote on plans to reform the system of direct payments to farmers and to simplify checks on how they spend the money. Also on the table are proposals about how to organise agricultural markets and support rural development.
Upholding human rights and promoting European culture
The Parliament will award the Sakharov prize for Freedom of Thought, which recognises the efforts and sacrifices of those striving for liberty and freedom. Last year it was issued to the Arab Spring activists.
In November MEPs will also pick the winner of the LUX Prize to promote European cinema. The three finalists are "Csak a szél" (Just the Wind), "Io sono Li" (Shun Li and the Poet) and "Tabu". In October and November these films will be shown in all 27 member states during the LUX Film Days.