EU hopes to seize debt crisis initiative at summit
• uk.news.yahoo.comAfter months of battling to put out fires, including a 110 billion euro bailout for Athens and an 85 billion euro aid package for Dublin, EU leaders will discuss changing the EU's treaty to create a permanent crisis-resolution mechanism from 2013, and may look at enlarging their existing crisis fund.
The two-day summit
comes as market pressure on the sovereign debt of peripheral euro zone
states has fallen marginally before year-end, but EU officials are
conscious that any failure to take decisive action could be interpreted
as weakness, with the threat of further bond market fallout early next
year.
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