News Summary: EU officials mull even greater unity

December 6, 2012 @ 2:56 pm

(AP) - GETTING COZY: Four top European Union officials unveiled a report calling for a closer financial union that will clash with some member states' cherished national interests.

DETAILS, DETAILS: The report, which was vague on details, suggested the system would evolve out of Europe's current financial backstops, which include a bailout fund, a nascent banking supervisor and budget checks.

IT'S A START: The report will be used as a starting point for debate at next week's summit of EU government leaders as they seek a way out of the financial crisis by further increasing control over banks and National budgets.


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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