FACTBOX - Main points of EU's reform treaty

(Reuters) - European Union leaders agreed early on Friday on a new treaty replacing the defunct constitution and overhauling the 27-nation bloc's institutions.

Here are some of the main points of the 250-page treaty, due to be signed in December and fully ratified by 2009.

It incorporates the key reforms in the constitution rejected by French and Dutch voters in 2005 while discarding the name, structure and symbols.

INSTITUTIONS - EU leaders will choose a president of the European Council for 2-1/2 years renewable to strengthen the current system of rotating presidencies.

A powerful new foreign policy chief, at the head of an EU foreign service, will give the bloc a greater say on the world stage. The High Representative will answer to EU governments but also be vice-president of the European Commission and manage the EU executive's huge external aid budget.

The Eurogroup of finance ministers of countries that share the euro single currency is formalised for the first time and elects a chairman for a renewable 2-1/2-year term.

Member states will benefit from a NATO-style mutual defence clause in case of one of them being attacked.

The European Court of Justice will be given more power by being allowed to rule for the first time on whether national legislation on justice and home affairs is compatible with EU laws -- except for Britain and Ireland, which secured opt-outs.

The European Commission, the EU's executive, will have fewer members from 2014. Each of the EU's 27 nations now appoints a commissioner but the number will be capped.