EU Summit to tackle banking union; Spain on watch

It will be the fourth time EU leaders have met this year and the 22nd summit held since the crisis erupted in Greece in late 2009. Yet diplomats expect no breakthroughs at the two-day gathering, with the agenda focused instead on longer-term efforts to retool the region’s banks and economies.-RTRS

I love Asmussen’s comment that it is more important to do it properly than to do it quickly.

Maybe they will hold their next summit in Athens or Madrid, because by the sounds of things not much is going to happen later today.

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