EU debt crisis summit may be extended
Baku, December 2 (AZERTAC). European leaders may extend their two-day debt crisis summit next week if necessary to ensure that they deliver credible results, a European diplomat told AFP on Friday.
European Union leaders are meeting on Thursday night for dinner and the next morning under huge pressure to produce a convincing defence against a crisis threatening the eurozone`s very existence.
"The idea, for the moment, is to finish the European Council on Friday at noon as scheduled," said the diplomat close to the discussions. "But if needed, we will keep going, including during the weekend," the diplomat said.
"What is absolutely necessary is to have a credible agreement for the EU but also for the markets, so we will not leave as long as we do not have a credible agreement," he added.
The EU`s planning cell and Brussels police have been told to be ready in case the December 8-9 summit is extended.
Italian Prime Minister Mario Monti, whose country`s borrowing costs have soared to dangerous levels, has warned that markets would punish any failure at the summit.
The leaders will debate a Franco-German proposal to change the union`s governing treaty in order to enforce strict budgetary discipline in the eurozone.
A controversial idea to introduce joint eurozone bonds -- opposed by Germany but seen by some states and economists as a solution -- is also on the agenda.
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