Wider powers for eurozone bail-out fund

Instead, Mr Van Rompuy will consult with eurozone heads of government and “report back identifying concrete ways forward” by the end of March.

The conclusions do, however, commit EU leaders to conducting “ambitious stress tests” of banks and to finding funding “to deal with the banks that demonstrate vulnerability”.

To many analysts, shoring up Europe’s banking system is at the core of the crisis, and a credible evaluation of their weaknesses – and a commitment to plug any holes discovered – is essential to winning back market confidence. 

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