On the eve of the summit,
European Commission President Jose Manuel Barroso renewed his call on the 27 EU
member states to get united in tackling the financial crisis.
In an urgent bid to find
solutions, leaders from the 15 EU countries that use the euro met in Paris for
their first ever meeting on Sunday, only three days away from the larger EU
summit.
The eurozone leaders
hammered out a joint action plan, which would see European governments buy in
banks to boost their finances and temporarily guarantee bank refinancing to
ease the credit crunch, similar to the British bailout package.
In addition to the
financial crisis, EU leaders also need to find a common line on the fight
against climate change. The matter concerns the reduction of greenhouse gas
emissions.
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