video Finance Videos

Foundations laid, building work to continue at EU summit

Wednesday, October 17, 2012 - 02:29

Oct. 17 - EU leaders meet in Brussels for the 22nd summit in less than 3 years. But unlike most of the others, this one isn't being billed as a ''crisis'' summit.

▲ Hide Transcript

▶ View Transcript

Yeah and the European Union does lots of things. But being a 27 nation institution the it doesn't do and -- queen's he. EU leaders meet in Brussels later this week for the fourth summit Xia. And 22 crisis summit since 2010. This is their religious attempt to resolve the it was a crisis and forge closer economic and political integration. We've become used to hearing that the next summit is the most important one since the last summit. But analysts at six Gypsy this doesn't apply this time runs yeah and didn't pick up blitz has been the chief and Brussels. -- So was -- -- buildups that sometimes end up just in the best fights and not think in in one respect it's true I mean it really. So these issues have become this is a chronic issues again like -- a couple of years and debt crisis brought an acute problems. And so they're dealing with quite sort of and yes I'm very nitty -- quite. You know race it was airy -- issues about restructuring economic and monetary union banking and fiscally there's only -- to get your teeth into Minnesota train -- for the financial market. Let's look at what's likely to be on the agenda -- long Tim tools such as banking union communism budgets and fiscal integration. And -- this week German finance mr. groove going -- book called for changes to the EU treaty. Well let's go to currency commissioner with pointing to how -- open national budgets. A more immediate interest to market still looking use once being Greeks. Is Madrid any closer to requesting eight and just -- spotted off -- is Athens on meeting its deficit targets. And his national Australia thanks Tom -- asks will any -- the -- given to these countries will be offered some others. What we won't find out if given the on NASA's David given everybody involved in week two when the austerity. To be -- comment about the need for medium term fiscal frameworks and perhaps some signs of policy will be decent. In franks in Germany in the Netherlands known. Nicole Europe roving Europe. If they can pass -- fiscal policy than the US and as a whole micro a little bit better in twenty that -- Much has been done in previous summits and the ECB stands ready to buy the bonds of troubled countries. So the foundations sort of reconstructed beautiful -- -- The building work continues. Jamie gave up for drugs.